The Department of State Tax filed two applications (IA/283/2022 and IA/426/2022) under Section 60(5) of the Insolvency & Bankruptcy Code, 2016, against the Resolution Professional of M/s. Calchem Industries (India) Limited, seeking direction to register the claims of the Applicant and deal with them according to the Code. The Applicant also requested to hold the approval of the Resolution Plan until the applications were addressed. The Resolution Professional (RP) rejected the claims, stating that the Committee of Creditors (CoC) had already approved the Resolution Plan. The applications were heard together and disposed of by a common order.
The Operational Creditor filed an application, and the Tribunal admitted the Corporate Debtor to Corporate Insolvency Resolution Process (CIRP) on 2019-09-25 and appointed Mr. Ritesh Prakash Adatiya as Interim Resolution Professional. The public announcement was made on 2019-10-01 to invite claims from the creditors. The Department of State Tax (Applicant) filed claims with the Resolution Professional (RP) on 2021-10-08 amounting to Rs. 4,18,52,112/- arising out of assessment orders passed under the Maharashtra Value Added Tax Act, 2002, for the years 2012-2013 to 2017-2018. The RP rejected the claims on 2021-10-13, stating that the CoC had already approved the Resolution Plan on 2020-10-13. The Applicant also issued a show cause notice dated 2021-11-16 for non-payment
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The Tribunal admitted the Corporate Debtor to…
Public announcement was…
The Department of State Tax filed two applications (IA/283/2022 and IA/426/2022) under Section 60(5) of the Insolvency & Bankruptcy Code, 2016, against the Resolution Professional of M/s. Calchem Industries (India) Limited, seeking direction to register the claims of the Applicant and deal with them according to the Code. The Applicant also requested to hold the approval of the Resolution Plan until the applications were addressed. The Resolution Professional (RP) rejected the claims, stating that the Committee of Creditors (CoC) had already approved the Resolution Plan. The applications were heard together and disposed of by a common order.
The Operational Creditor filed an application, and the Tribunal admitted the Corporate Debtor to Corporate Insolvency Resolution Process (CIRP) on 2019-09-25 and appointed Mr. Ritesh Prakash Adatiya as Interim Resolution Professional. The public announcement was made on 2019-10-01 to invite claims from the creditors. The Department of State Tax (Applicant) filed claims with the Resolution Professional (RP) on 2021-10-08 amounting to Rs. 4,18,52,112/- arising out of assessment orders passed under the Maharashtra Value Added Tax Act, 2002, for the years 2012-2013 to 2017-2018. The RP rejected the claims on 2021-10-13, stating that the CoC had already approved the Resolution Plan on 2020-10-13. The Applicant also issued a show cause notice dated 2021-11-16 for non-payment
…The Tribunal admitted the Corporate Debtor to…
Public announcement was…