The application was filed by the Resolution Professional (RP) under Section 60(5)(c) read with Sections 14 and 238 of the Insolvency & Bankruptcy Code, 2016, seeking directions to quash/set aside the 'Recovery Certificate'. The corporate debtor is involved in providing specialized transmission company services. The company petition was filed by Dena Bank under Section 7 of the Code, and the tribunal admitted the petition on 2019-04-11, appointing Mr. Shailesh Bhalchandra Desai as the Interim Resolution Professional (IRP), later confirmed as RP. The CoC decided on liquidation due to the CIRP period expiring without a resolution plan. A liquidation application was filed, and a public announcement of CIRP was made on 2019-04-15, inviting claims by 2019-04-27.
The corporate debtor, EMI Transmission Limited, was undergoing CIRP. Dena Bank initiated the CIRP under Section 7 of the IBC. Mr. Shailesh Bhalchandra Desai was appointed as the IRP and later confirmed as RP. A public announcement of the CIRP was made on 2019-04-15. Centre Point Premises Co-operative Society Ltd. (the respondent) submitted a claim of Rs. 48,12,025/- as society maintenance charges. The RP admitted Rs. 39,43,377/- as an operational debt, but did not admit Rs. 8,68,648/- related to property tax. Despite the moratorium under Section 14 of the Code, the respondent approached the Assistant Registrar, Cooperative Society, and obtained a recovery certificate for Rs. 53,45,762/-. The RP filed an application to quash the recovery certificate, arguing that it
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C. P. No. 2660/…
Tribunal admit…
The application was filed by the Resolution Professional (RP) under Section 60(5)(c) read with Sections 14 and 238 of the Insolvency & Bankruptcy Code, 2016, seeking directions to quash/set aside the 'Recovery Certificate'. The corporate debtor is involved in providing specialized transmission company services. The company petition was filed by Dena Bank under Section 7 of the Code, and the tribunal admitted the petition on 2019-04-11, appointing Mr. Shailesh Bhalchandra Desai as the Interim Resolution Professional (IRP), later confirmed as RP. The CoC decided on liquidation due to the CIRP period expiring without a resolution plan. A liquidation application was filed, and a public announcement of CIRP was made on 2019-04-15, inviting claims by 2019-04-27.
The corporate debtor, EMI Transmission Limited, was undergoing CIRP. Dena Bank initiated the CIRP under Section 7 of the IBC. Mr. Shailesh Bhalchandra Desai was appointed as the IRP and later confirmed as RP. A public announcement of the CIRP was made on 2019-04-15. Centre Point Premises Co-operative Society Ltd. (the respondent) submitted a claim of Rs. 48,12,025/- as society maintenance charges. The RP admitted Rs. 39,43,377/- as an operational debt, but did not admit Rs. 8,68,648/- related to property tax. Despite the moratorium under Section 14 of the Code, the respondent approached the Assistant Registrar, Cooperative Society, and obtained a recovery certificate for Rs. 53,45,762/-. The RP filed an application to quash the recovery certificate, arguing that it
…C. P. No. 2660/…
Tribunal admit…