The Department of Gujarat State Tax filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016, against the Resolution Professional (RP) for non-consideration of a claim submitted in Form DRC-01A. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor, Gajanand Corporation Pvt. Ltd., based on a petition filed by Eco Green Products Pvt. Ltd. The applicant authorities issued show cause notices and summons to the Corporate Debtor for Financial Years 2017-18 to 2019-20 under the Goods and Service Tax Act, 2017, but the Corporate Debtor did not respond. The applicant authorities issued Form DRC-01A to the RP and the Corporate Debtor on 08.09.2023, but the RP remained
…The Corporate Debtor, Gajanand Corporation Pvt. Ltd., underwent Corporate Insolvency Resolution Process (CIRP) initiated by Eco Green Products Pvt. Ltd. The Department of Gujarat State Tax, the applicant, sought to claim Rs 10.27 Crores related to Financial Years 2018-19 and 2019-20 under the Goods and Service Tax Act, 2017. The applicant issued show cause notices and summons to the Corporate Debtor, but received no response. The applicant submitted Form DRC-01A to the Resolution Professional (RP) on 08.09.2023, after the Resolution Plan had already been approved by the Committee of Creditors (COC) on 18.08.2022. The RP argued that the claim was submitted late and not in the prescribed form as per Regulation 12 of IBBI Regulations, 2016. The Resolution Plan was
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Eco Green Products Pvt. Ltd. filed Company…
Tribunal directed commencement of CIRP…
The Department of Gujarat State Tax filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016, against the Resolution Professional (RP) for non-consideration of a claim submitted in Form DRC-01A. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor, Gajanand Corporation Pvt. Ltd., based on a petition filed by Eco Green Products Pvt. Ltd. The applicant authorities issued show cause notices and summons to the Corporate Debtor for Financial Years 2017-18 to 2019-20 under the Goods and Service Tax Act, 2017, but the Corporate Debtor did not respond. The applicant authorities issued Form DRC-01A to the RP and the Corporate Debtor on 08.09.2023, but the RP remained
…The Corporate Debtor, Gajanand Corporation Pvt. Ltd., underwent Corporate Insolvency Resolution Process (CIRP) initiated by Eco Green Products Pvt. Ltd. The Department of Gujarat State Tax, the applicant, sought to claim Rs 10.27 Crores related to Financial Years 2018-19 and 2019-20 under the Goods and Service Tax Act, 2017. The applicant issued show cause notices and summons to the Corporate Debtor, but received no response. The applicant submitted Form DRC-01A to the Resolution Professional (RP) on 08.09.2023, after the Resolution Plan had already been approved by the Committee of Creditors (COC) on 18.08.2022. The RP argued that the claim was submitted late and not in the prescribed form as per Regulation 12 of IBBI Regulations, 2016. The Resolution Plan was
…Eco Green Products Pvt. Ltd. filed Company…
Tribunal directed commencement of CIRP…