The Principal Commissioner of Income Tax (Central), Ludhiana, filed an application to set aside a letter dated 07.11.2022 issued by the liquidator of Lakshmi Energy & Foods Ltd., rejecting the applicant's claims. The Corporate Insolvency Resolution Process (CIRP) was initiated against Lakshmi Energy & Foods Ltd. on 03.09.2019. Mr. Ravinder Agarwal was appointed as Interim Resolution Professional, later replaced by Mr. Kuldip Kumar Bassi. On 27.07.2021, the tribunal ordered the commencement of the liquidation process, appointing Mr. Kuldip Kumar Bassi as the liquidator. The applicant filed claims in Form-B amounting to Rs. 126,58,50,964/- on 16.03.2022, 25.08.2022, and 04.11.2022. The liquidator rejected the claim on 07.11.2022, stating it was received after the
…The Principal Commissioner of Income Tax (Central), Ludhiana, filed an application to set aside the rejection of their claim by the liquidator of Lakshmi Energy & Foods Ltd. The CIRP was initiated against Lakshmi Energy & Foods Ltd. on 03.09.2019. The applicant filed claims amounting to Rs. 126,58,50,964/- on 16.03.2022, 25.08.2022, and 04.11.2022. The liquidator rejected the claim on 07.11.2022, citing that it was received after the last date of submission, 25.08.2021. The applicant argued that the liquidation was not finalized and their claims should have been considered. The respondent contended that the claim was delayed by 365 days and the applicant did not challenge the initial rejection order. The liquidation commencement date was 26.07.2021, and the
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Corporate Insolvency Resolution Process (CIRP)…
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The Principal Commissioner of Income Tax (Central), Ludhiana, filed an application to set aside a letter dated 07.11.2022 issued by the liquidator of Lakshmi Energy & Foods Ltd., rejecting the applicant's claims. The Corporate Insolvency Resolution Process (CIRP) was initiated against Lakshmi Energy & Foods Ltd. on 03.09.2019. Mr. Ravinder Agarwal was appointed as Interim Resolution Professional, later replaced by Mr. Kuldip Kumar Bassi. On 27.07.2021, the tribunal ordered the commencement of the liquidation process, appointing Mr. Kuldip Kumar Bassi as the liquidator. The applicant filed claims in Form-B amounting to Rs. 126,58,50,964/- on 16.03.2022, 25.08.2022, and 04.11.2022. The liquidator rejected the claim on 07.11.2022, stating it was received after the
…The Principal Commissioner of Income Tax (Central), Ludhiana, filed an application to set aside the rejection of their claim by the liquidator of Lakshmi Energy & Foods Ltd. The CIRP was initiated against Lakshmi Energy & Foods Ltd. on 03.09.2019. The applicant filed claims amounting to Rs. 126,58,50,964/- on 16.03.2022, 25.08.2022, and 04.11.2022. The liquidator rejected the claim on 07.11.2022, citing that it was received after the last date of submission, 25.08.2021. The applicant argued that the liquidation was not finalized and their claims should have been considered. The respondent contended that the claim was delayed by 365 days and the applicant did not challenge the initial rejection order. The liquidation commencement date was 26.07.2021, and the
…Corporate Insolvency Resolution Process (CIRP)…
Liquidation process…