This case involves two Interlocutory Applications (IAs) filed in the liquidation proceedings of Great United Energy Pvt Ltd. IA 372/2021 was filed by Bansal Ship Breakers, the auction buyer, seeking a refund of Rs. 59.58 Lakhs collected as GST on the sale of a vessel, along with additional costs incurred due to the liquidator's non-compliance. IA 820/2021 was filed by the liquidator seeking directions to the auction buyer for payment of Rs. 42,90,161/- towards port charges. The corporate debtor, Great United Energy Pvt Ltd, was admitted into Corporate Insolvency Resolution Process (CIRP) on 26.6.2018 and subsequently ordered into liquidation on 13.2.2019.
Great United Energy Pvt Ltd was admitted into CIRP on 2018-06-26 and subsequently ordered into liquidation on 2019-02-13. A tender document dated 2019-12-20 was issued for the e-auction of the vessel 'Adinath One' on an 'as is where is' basis. Bansal Ship Breakers was declared the successful bidder on 2020-02-01. The auction buyer failed to pay the balance amount within the stipulated time, leading to forfeiture of the deposited amount. The auction buyer then filed MA 200/2020 seeking direction for payment of the balance amount with 5% GST instead of 18% GST, which was dismissed. The auction buyer paid GST of Rs. 59.58 lacs and the auction price of Rs. 331.00 lacs, and the liquidator issued a revised sale certificate on 2020-02-26. The liquidator failed to handover
…Sign in to view the parties.
Corporate Debtor…
Corporate D…
This case involves two Interlocutory Applications (IAs) filed in the liquidation proceedings of Great United Energy Pvt Ltd. IA 372/2021 was filed by Bansal Ship Breakers, the auction buyer, seeking a refund of Rs. 59.58 Lakhs collected as GST on the sale of a vessel, along with additional costs incurred due to the liquidator's non-compliance. IA 820/2021 was filed by the liquidator seeking directions to the auction buyer for payment of Rs. 42,90,161/- towards port charges. The corporate debtor, Great United Energy Pvt Ltd, was admitted into Corporate Insolvency Resolution Process (CIRP) on 26.6.2018 and subsequently ordered into liquidation on 13.2.2019.
Great United Energy Pvt Ltd was admitted into CIRP on 2018-06-26 and subsequently ordered into liquidation on 2019-02-13. A tender document dated 2019-12-20 was issued for the e-auction of the vessel 'Adinath One' on an 'as is where is' basis. Bansal Ship Breakers was declared the successful bidder on 2020-02-01. The auction buyer failed to pay the balance amount within the stipulated time, leading to forfeiture of the deposited amount. The auction buyer then filed MA 200/2020 seeking direction for payment of the balance amount with 5% GST instead of 18% GST, which was dismissed. The auction buyer paid GST of Rs. 59.58 lacs and the auction price of Rs. 331.00 lacs, and the liquidator issued a revised sale certificate on 2020-02-26. The liquidator failed to handover
…Corporate Debtor…
Corporate D…