The case involves an application (IA(IBC)/369/2023) filed in connection with a corporate insolvency resolution process (CIRP) initiated against M/s. Laxme Saai Steel Private Limited (Corporate Debtor) under CP(IB)/74/7/AMR/2021. Dovefin Microfinance Private Ltd filed the initial company petition. The application seeks a direction to the Principal Commissioner of Central Tax (Respondent) to refrain from executing an order (VSP-CGST-ADC-13/23-24, dated 2023-07-10) to recover amounts from the Corporate Debtor, arguing that it interferes with the revival process and is non-est in law. The resolution plan for the Corporate Debtor was approved, and a resolution applicant took over the company's assets. The Respondent, however, issued an order for tax recovery related to a
…Dovefin Microfinance Private Ltd initiated CIRP against M/s. Laxme Saai Steel Private Limited (Corporate Debtor) via CP(IB)/74/7/AMR/2021. The CIRP was admitted on 2022-01-18, and Mr. Rajesh Chillale was appointed as the IRP and later as the Resolution Professional (RP). The RP invited Expression of Interest (EoI) and received ten applications. One resolution plan was received from Mr. Naval Kishore Khaitan, approved by the CoC on 2022-06-25 with 100% voting, and subsequently approved by the Tribunal on 2022-08-16. The Resolution Applicant paid Rs.19.01 crores towards CIRP costs, workmen dues, and payments to Operational and Financial Creditors. An amount of Rs.84,00,000/- was earmarked for Operational Creditors other than Workmen and Employees. The Principal
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Dovefin Microfinance Private Ltd filed…
The Company Petition…
The case involves an application (IA(IBC)/369/2023) filed in connection with a corporate insolvency resolution process (CIRP) initiated against M/s. Laxme Saai Steel Private Limited (Corporate Debtor) under CP(IB)/74/7/AMR/2021. Dovefin Microfinance Private Ltd filed the initial company petition. The application seeks a direction to the Principal Commissioner of Central Tax (Respondent) to refrain from executing an order (VSP-CGST-ADC-13/23-24, dated 2023-07-10) to recover amounts from the Corporate Debtor, arguing that it interferes with the revival process and is non-est in law. The resolution plan for the Corporate Debtor was approved, and a resolution applicant took over the company's assets. The Respondent, however, issued an order for tax recovery related to a
…Dovefin Microfinance Private Ltd initiated CIRP against M/s. Laxme Saai Steel Private Limited (Corporate Debtor) via CP(IB)/74/7/AMR/2021. The CIRP was admitted on 2022-01-18, and Mr. Rajesh Chillale was appointed as the IRP and later as the Resolution Professional (RP). The RP invited Expression of Interest (EoI) and received ten applications. One resolution plan was received from Mr. Naval Kishore Khaitan, approved by the CoC on 2022-06-25 with 100% voting, and subsequently approved by the Tribunal on 2022-08-16. The Resolution Applicant paid Rs.19.01 crores towards CIRP costs, workmen dues, and payments to Operational and Financial Creditors. An amount of Rs.84,00,000/- was earmarked for Operational Creditors other than Workmen and Employees. The Principal
…Dovefin Microfinance Private Ltd filed…
The Company Petition…