The case involves two Interlocutory Applications (IAs) filed in the matter of the Corporate Insolvency Resolution Process (CIRP) of Great United Energy Pvt Ltd. IA 372/2021 was filed by Bansal Ship Breakers, the auction buyer, seeking directions to the liquidator to refund Rs. 59.58 Lakhs (collected towards 18% GST) along with interest and additional costs incurred due to non-compliance by the liquidator. IA 820/2021 was filed by the Liquidator seeking directions to the Auction Buyer for payment of Rs. 42,90,161/- towards port charges.
Great United Energy Pvt Ltd was undergoing Corporate Insolvency Resolution Process (CIRP) and was later ordered to be liquidated. Bansal Ship Breakers was the successful auction buyer of a vessel named 'Adinath One'. The liquidator collected GST from the auction buyer on the sale of the vessel. The auction buyer filed a bill of entry for home consumption with an incorrect assessable value, leading to the payment of excess taxes. The liquidator also claimed port charges from the auction buyer for the period after the sale certificate was issued. The auction buyer sought a refund of the GST amount and additional costs, while the liquidator sought payment of port charges. The sale was on an 'as is where is' basis.
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Corporate Debtor was admitted to Corporate…
The Corporate Debtor…
The case involves two Interlocutory Applications (IAs) filed in the matter of the Corporate Insolvency Resolution Process (CIRP) of Great United Energy Pvt Ltd. IA 372/2021 was filed by Bansal Ship Breakers, the auction buyer, seeking directions to the liquidator to refund Rs. 59.58 Lakhs (collected towards 18% GST) along with interest and additional costs incurred due to non-compliance by the liquidator. IA 820/2021 was filed by the Liquidator seeking directions to the Auction Buyer for payment of Rs. 42,90,161/- towards port charges.
Great United Energy Pvt Ltd was undergoing Corporate Insolvency Resolution Process (CIRP) and was later ordered to be liquidated. Bansal Ship Breakers was the successful auction buyer of a vessel named 'Adinath One'. The liquidator collected GST from the auction buyer on the sale of the vessel. The auction buyer filed a bill of entry for home consumption with an incorrect assessable value, leading to the payment of excess taxes. The liquidator also claimed port charges from the auction buyer for the period after the sale certificate was issued. The auction buyer sought a refund of the GST amount and additional costs, while the liquidator sought payment of port charges. The sale was on an 'as is where is' basis.
Corporate Debtor was admitted to Corporate…
The Corporate Debtor…