The case involves a dispute over the release of cargo imported by KSK Mahanadhi Power Company Limited (KSKMPCL) which is lying at Paradip Port. KSKMPCL underwent Corporate Insolvency Resolution Process (CIRP), and a resolution plan was approved. Power Finance Corporation, a financial creditor, initiated the CIRP. After the resolution plan was approved, disputes arose with Paradeep Customs Division and Paradip Port Authority regarding the release of the cargo, with both entities claiming dues and requiring certain clearances.
KSKMPCL imported cargo which arrived at Paradip Port, Odisha on 15.06.2017.
CIRP was initiated against KSKMPCL under Section 7 of the IBC, vide Order dated 03.10.2019.
A Resolution Plan submitted by JSW Energy Limited was approved on 29.11.2024.
Paradeep Customs Division (R1) and Paradip Port Authority (R2) filed claims during the CIRP, which were admitted and partially paid under the Resolution Plan.
After approval of the Resolution Plan, disputes arose regarding the release of the cargo, with R1 and R2 claiming outstanding dues and insisting on certain clearances.
R1 raised a demand for alleged differential customs duty of Rs. 9,70,65,310/- based on a typographical error in a Bill of Entry of 2012.
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KSKMPCL received certain materials under…
The Petition was admitted vide Order dated…
The case involves a dispute over the release of cargo imported by KSK Mahanadhi Power Company Limited (KSKMPCL) which is lying at Paradip Port. KSKMPCL underwent Corporate Insolvency Resolution Process (CIRP), and a resolution plan was approved. Power Finance Corporation, a financial creditor, initiated the CIRP. After the resolution plan was approved, disputes arose with Paradeep Customs Division and Paradip Port Authority regarding the release of the cargo, with both entities claiming dues and requiring certain clearances.
KSKMPCL imported cargo which arrived at Paradip Port, Odisha on 15.06.2017.
CIRP was initiated against KSKMPCL under Section 7 of the IBC, vide Order dated 03.10.2019.
A Resolution Plan submitted by JSW Energy Limited was approved on 29.11.2024.
Paradeep Customs Division (R1) and Paradip Port Authority (R2) filed claims during the CIRP, which were admitted and partially paid under the Resolution Plan.
After approval of the Resolution Plan, disputes arose regarding the release of the cargo, with R1 and R2 claiming outstanding dues and insisting on certain clearances.
R1 raised a demand for alleged differential customs duty of Rs. 9,70,65,310/- based on a typographical error in a Bill of Entry of 2012.
…KSKMPCL received certain materials under…
The Petition was admitted vide Order dated…