Maha Mineral Mining and Benefication Private Limited filed a writ petition seeking to quash a demand notice issued by Gram Panchayat, Gowari, for tax dues pertaining to a period before the petitioner acquired assets of Gupta Global Resources Private Limited under the Insolvency and Bankruptcy Code (IBC), 2016. Gupta Global Resources Private Limited had availed credit facilities but defaulted, leading to the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 10 of the IBC. The CIRP failed, and the NCLT ordered liquidation of Gupta Global Resources Private Limited. The petitioner acquired the assets through an auction during the liquidation process.
Gupta Global Resources Private Limited faced financial difficulties and initiated CIRP under Section 10 of IBC. NCLT admitted the petition on 2017-10-04, appointing an Interim Resolution Professional (IRP). The IRP made a public announcement on 2017-10-10, inviting creditors to submit claims by 2017-10-21. A Committee of Creditors (CoC) was formed, but no resolution plan was approved. NCLT ordered liquidation on 2018-08-28. A Liquidator was appointed, who issued a public announcement calling for claims by 2018-09-27. The Gram Panchayat, Gowari, did not submit any claim. The Liquidator took possession of assets and called for sale on 2019-05-15. The petitioner, Maha Mineral Mining and Benefication Private Limited, placed the highest bid on 2019-06-03 and received a sale
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NCLT admitted the petition for Corporate…
Interim Resolution Professional (IRP) made a…
Maha Mineral Mining and Benefication Private Limited filed a writ petition seeking to quash a demand notice issued by Gram Panchayat, Gowari, for tax dues pertaining to a period before the petitioner acquired assets of Gupta Global Resources Private Limited under the Insolvency and Bankruptcy Code (IBC), 2016. Gupta Global Resources Private Limited had availed credit facilities but defaulted, leading to the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 10 of the IBC. The CIRP failed, and the NCLT ordered liquidation of Gupta Global Resources Private Limited. The petitioner acquired the assets through an auction during the liquidation process.
Gupta Global Resources Private Limited faced financial difficulties and initiated CIRP under Section 10 of IBC. NCLT admitted the petition on 2017-10-04, appointing an Interim Resolution Professional (IRP). The IRP made a public announcement on 2017-10-10, inviting creditors to submit claims by 2017-10-21. A Committee of Creditors (CoC) was formed, but no resolution plan was approved. NCLT ordered liquidation on 2018-08-28. A Liquidator was appointed, who issued a public announcement calling for claims by 2018-09-27. The Gram Panchayat, Gowari, did not submit any claim. The Liquidator took possession of assets and called for sale on 2019-05-15. The petitioner, Maha Mineral Mining and Benefication Private Limited, placed the highest bid on 2019-06-03 and received a sale
…NCLT admitted the petition for Corporate…
Interim Resolution Professional (IRP) made a…