The appeal was filed by the Commissioner of State Taxes & Excise, Deputy Commissioner of State Taxes & Excise, and Joint Director of Industries against an order dated 12.10.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Principal Bench, New Delhi) in IA/1459/2020 in (IB)/239(PB)/2017. The Adjudicating Authority directed the Respondent No. 1 and 2 (the Appellant Nos. 1 and 2) to issue a No Objection Certificate (NOC) to the Liquidator and Director of Industries in order to register the properties and allowed the application filed by the Liquidator under Section 60(5) of the Insolvency and Bankruptcy Code, 2016.
The Commissioner of State Taxes & Excise, Deputy Commissioner of State Taxes & Excise, and Joint Director of Industries filed an appeal against an order passed by the Adjudicating Authority (NCLT). The Adjudicating Authority had directed the Appellants to issue a No Objection Certificate (NOC) to the Liquidator and Director of Industries to register properties of Biotropics Pharma Private Limited, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against Biotropics Pharma Private Limited. Naresh Kumar Sood was appointed as the Liquidator. The Appellants claimed that Biotropics Pharma Private Limited owed them Rs. 1,22,70,000/- and Rs. 3,32,32,912/- under the HP VAT Act, 2005. They argued that Section 26 of the HP VAT Act
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IRP sent a letter to Assistant Commissioner,…
The appeal was filed by the Commissioner of State Taxes & Excise, Deputy Commissioner of State Taxes & Excise, and Joint Director of Industries against an order dated 12.10.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Principal Bench, New Delhi) in IA/1459/2020 in (IB)/239(PB)/2017. The Adjudicating Authority directed the Respondent No. 1 and 2 (the Appellant Nos. 1 and 2) to issue a No Objection Certificate (NOC) to the Liquidator and Director of Industries in order to register the properties and allowed the application filed by the Liquidator under Section 60(5) of the Insolvency and Bankruptcy Code, 2016.
The Commissioner of State Taxes & Excise, Deputy Commissioner of State Taxes & Excise, and Joint Director of Industries filed an appeal against an order passed by the Adjudicating Authority (NCLT). The Adjudicating Authority had directed the Appellants to issue a No Objection Certificate (NOC) to the Liquidator and Director of Industries to register properties of Biotropics Pharma Private Limited, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against Biotropics Pharma Private Limited. Naresh Kumar Sood was appointed as the Liquidator. The Appellants claimed that Biotropics Pharma Private Limited owed them Rs. 1,22,70,000/- and Rs. 3,32,32,912/- under the HP VAT Act, 2005. They argued that Section 26 of the HP VAT Act
…Company Petit…
IRP sent a letter to Assistant Commissioner,…