The Assistant Commissioner of State Tax, Mumbai, filed an appeal under Section 42 of the Insolvency and Bankruptcy Code, 2016, seeking condonation of delay in filing a claim in the liquidation of Texorange Corporation Limited and a direction to the Liquidator to admit the claim. The Corporate Insolvency Resolution Process (CIRP) was initiated by Bank of Baroda, and Mr. Sudip Bhattacharya was appointed as the Interim Resolution Professional. The appellant filed claims for the period of 2008-09, 2014-15, 2015-16, and 2016-17, which were rejected by the liquidator.
The Assistant Commissioner of State Tax, Mumbai, filed an appeal against the rejection of its claim in the liquidation of Texorange Corporation Limited. The CIRP was initiated by Bank of Baroda, and the appellant filed claims for tax dues for the period of 2008-09, 2014-15, 2015-16, and 2016-17. The liquidator rejected the claim, stating that it could not be treated as a secured creditor. The appellant argued that the delay in filing the claim was not intentional and relied on the Supreme Court's decision in State Tax Officer (1) vs Rainbow Papers Limited, contending that statutory dues qualify as secured creditors. The liquidation process commenced on 22.06.2023, and the appellant had filed claim in Form C, as applicable to the Liquidation process, on 3.4.2023. The
…Sign in to view the parties.
Corporate Insolvency Resolution Process (CIRP)…
Public announcement…
The Assistant Commissioner of State Tax, Mumbai, filed an appeal under Section 42 of the Insolvency and Bankruptcy Code, 2016, seeking condonation of delay in filing a claim in the liquidation of Texorange Corporation Limited and a direction to the Liquidator to admit the claim. The Corporate Insolvency Resolution Process (CIRP) was initiated by Bank of Baroda, and Mr. Sudip Bhattacharya was appointed as the Interim Resolution Professional. The appellant filed claims for the period of 2008-09, 2014-15, 2015-16, and 2016-17, which were rejected by the liquidator.
The Assistant Commissioner of State Tax, Mumbai, filed an appeal against the rejection of its claim in the liquidation of Texorange Corporation Limited. The CIRP was initiated by Bank of Baroda, and the appellant filed claims for tax dues for the period of 2008-09, 2014-15, 2015-16, and 2016-17. The liquidator rejected the claim, stating that it could not be treated as a secured creditor. The appellant argued that the delay in filing the claim was not intentional and relied on the Supreme Court's decision in State Tax Officer (1) vs Rainbow Papers Limited, contending that statutory dues qualify as secured creditors. The liquidation process commenced on 22.06.2023, and the appellant had filed claim in Form C, as applicable to the Liquidation process, on 3.4.2023. The
…Corporate Insolvency Resolution Process (CIRP)…
Public announcement…