The case involves an appeal against an order dated 09.05.2024, where the Appellants were held guilty of contempt and sentenced to simple imprisonment and a fine for disobeying an earlier order dated 29.03.2023. The initial order pertained to the release of goods belonging to the Corporate Debtor, Lanco Babandh Power Limited, which was undergoing liquidation. The goods were lying with the Paradip Customs Division and the Paradip Port Authority. The Liquidator sought the release of these goods for sale to Jindal Steel & Power Limited, the auction purchaser. The Appellants, who are officials of the Paradip Port Trust, allegedly failed to comply with the order, leading to the contempt proceedings. The Appellants claimed non-compliance was due to misunderstanding and
…Lanco Babandh Power Limited was admitted into CIRP on 29.08.2018 and subsequently into liquidation on 27.11.2019. The company had imported goods between July 2011 and April 2016, but these goods were not released due to the company's failure to furnish required documents. The Deputy Commissioner of Paradip Customs Division issued out-of-charge (OOC) for some bills of entry, but not for all. The Deputy Commissioner filed a claim of Rs. 34,64,33,861/- and the Deputy Traffic Manager of Paradip Port Authority filed a claim of Rs. 4,36,30,691/- before the Liquidator. The Liquidator filed I.A No. 939 of 2020 seeking direction for the release of the goods, which was allowed on 29.03.2023. Jindal Steel & Power Limited (JSPL) purchased the assets in an e-auction dated
…Sign in to view the parties.
Lanco Babandh…
Lanco Babandh Power…
The case involves an appeal against an order dated 09.05.2024, where the Appellants were held guilty of contempt and sentenced to simple imprisonment and a fine for disobeying an earlier order dated 29.03.2023. The initial order pertained to the release of goods belonging to the Corporate Debtor, Lanco Babandh Power Limited, which was undergoing liquidation. The goods were lying with the Paradip Customs Division and the Paradip Port Authority. The Liquidator sought the release of these goods for sale to Jindal Steel & Power Limited, the auction purchaser. The Appellants, who are officials of the Paradip Port Trust, allegedly failed to comply with the order, leading to the contempt proceedings. The Appellants claimed non-compliance was due to misunderstanding and
…Lanco Babandh Power Limited was admitted into CIRP on 29.08.2018 and subsequently into liquidation on 27.11.2019. The company had imported goods between July 2011 and April 2016, but these goods were not released due to the company's failure to furnish required documents. The Deputy Commissioner of Paradip Customs Division issued out-of-charge (OOC) for some bills of entry, but not for all. The Deputy Commissioner filed a claim of Rs. 34,64,33,861/- and the Deputy Traffic Manager of Paradip Port Authority filed a claim of Rs. 4,36,30,691/- before the Liquidator. The Liquidator filed I.A No. 939 of 2020 seeking direction for the release of the goods, which was allowed on 29.03.2023. Jindal Steel & Power Limited (JSPL) purchased the assets in an e-auction dated
…Lanco Babandh…
Lanco Babandh Power…