The case involves two applications, I.A No. 549/KB/2022 and I.A No. 792/KB/2022, filed in C.P (I.B) No. 570/KB/2018 under Section 60(5) of the Insolvency & Bankruptcy Code, 2016. The applications were filed by Jagannath Financial Advisory Private Limited, the Successful Resolution Applicant (SRA), against Kolkata Municipal Corporation and Principal Commissioner of Income Tax & Ors. The SRA sought directions to extinguish property tax dues and withdraw notices issued under the Income Tax Act against the Corporate Debtor, Aristo Texcon Private Limited, for the period prior to August 20, 2019, the date of approval of the resolution plan.
Aristo Texcon Private Limited underwent corporate insolvency resolution process, and Jagannath Financial Advisory Private Limited was the Successful Resolution Applicant (SRA). The resolution plan was approved on August 20, 2019. After the approval, Kolkata Municipal Corporation (KMC) continued to levy property tax/municipal tax on the Corporate Debtor's properties, with dues totaling Rs. 19,83,677/- since 2008-2009, along with interest of Rs. 8,82,577.22/-. The Corporate Debtor requested KMC to extinguish all property tax obligations prior to August 20, 2019, as per the approved resolution plan. Similarly, the Income Tax Department issued notices under various sections of the Income Tax Act, despite the approval of the resolution plan. The SRA filed I.A No.
…Sign in to view the parties.
Corporate Insolvency…
Resolution plan submitted by Jagannath Financial…
The case involves two applications, I.A No. 549/KB/2022 and I.A No. 792/KB/2022, filed in C.P (I.B) No. 570/KB/2018 under Section 60(5) of the Insolvency & Bankruptcy Code, 2016. The applications were filed by Jagannath Financial Advisory Private Limited, the Successful Resolution Applicant (SRA), against Kolkata Municipal Corporation and Principal Commissioner of Income Tax & Ors. The SRA sought directions to extinguish property tax dues and withdraw notices issued under the Income Tax Act against the Corporate Debtor, Aristo Texcon Private Limited, for the period prior to August 20, 2019, the date of approval of the resolution plan.
Aristo Texcon Private Limited underwent corporate insolvency resolution process, and Jagannath Financial Advisory Private Limited was the Successful Resolution Applicant (SRA). The resolution plan was approved on August 20, 2019. After the approval, Kolkata Municipal Corporation (KMC) continued to levy property tax/municipal tax on the Corporate Debtor's properties, with dues totaling Rs. 19,83,677/- since 2008-2009, along with interest of Rs. 8,82,577.22/-. The Corporate Debtor requested KMC to extinguish all property tax obligations prior to August 20, 2019, as per the approved resolution plan. Similarly, the Income Tax Department issued notices under various sections of the Income Tax Act, despite the approval of the resolution plan. The SRA filed I.A No.
…Corporate Insolvency…
Resolution plan submitted by Jagannath Financial…