The Commercial Tax Department filed an appeal challenging the order dated 01.09.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Indore Special Bench, Court No. 1), in IA/131/MP/2020 in TP/125/MP/2019 in CP(IB)/159/2018. The Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s. Bhagwan Motors Private Ltd., commenced by Order dated 21.06.2019. The Commercial Tax Department issued a Notice dated 03.07.2019 under Section 128 of the Madhya Pradesh VAT Act, 2002, upon VE Commercial Vehicles Limited to pay a sum of Rs.17,12,094/-. This amount was the VAT amount due for the Assessment Year 2014-15 of M/s. Bhagwan Motors Private Limited. In response to the notice, VE Commercial Vehicles Limited deposited the amount to the
…The Corporate Insolvency Resolution Process (CIRP) against M/s. Bhagwan Motors Private Ltd. commenced on 2019-06-21. The Commercial Tax Department issued a notice on 2019-07-03 to VE Commercial Vehicles Limited to pay Rs. 17,12,094/- as VAT due for the assessment year 2014-15 of M/s. Bhagwan Motors Private Limited. VE Commercial Vehicles Limited deposited the amount. The Resolution Professional (RP) filed IA 131/MP/2020 against VE Commercial Vehicles Limited and the Commercial Tax Officers, arguing that the deposit was a preferential transaction under Section 43 of the IBC and violated the moratorium under Section 14. The Adjudicating Authority directed the Commercial Tax Department to refund the amount. The Commercial Tax Department appealed this decision. The key
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Corporate Insolvency Resolution Process (CIRP)…
Commercial Tax Department issued a Notice to…
The Commercial Tax Department filed an appeal challenging the order dated 01.09.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Indore Special Bench, Court No. 1), in IA/131/MP/2020 in TP/125/MP/2019 in CP(IB)/159/2018. The Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s. Bhagwan Motors Private Ltd., commenced by Order dated 21.06.2019. The Commercial Tax Department issued a Notice dated 03.07.2019 under Section 128 of the Madhya Pradesh VAT Act, 2002, upon VE Commercial Vehicles Limited to pay a sum of Rs.17,12,094/-. This amount was the VAT amount due for the Assessment Year 2014-15 of M/s. Bhagwan Motors Private Limited. In response to the notice, VE Commercial Vehicles Limited deposited the amount to the
…The Corporate Insolvency Resolution Process (CIRP) against M/s. Bhagwan Motors Private Ltd. commenced on 2019-06-21. The Commercial Tax Department issued a notice on 2019-07-03 to VE Commercial Vehicles Limited to pay Rs. 17,12,094/- as VAT due for the assessment year 2014-15 of M/s. Bhagwan Motors Private Limited. VE Commercial Vehicles Limited deposited the amount. The Resolution Professional (RP) filed IA 131/MP/2020 against VE Commercial Vehicles Limited and the Commercial Tax Officers, arguing that the deposit was a preferential transaction under Section 43 of the IBC and violated the moratorium under Section 14. The Adjudicating Authority directed the Commercial Tax Department to refund the amount. The Commercial Tax Department appealed this decision. The key
…Corporate Insolvency Resolution Process (CIRP)…
Commercial Tax Department issued a Notice to…