# In the matter of Firestar Diamond International Private Limited

> NCLT judgment dated 2026-04-02. Citation: TCN-2026-NCLT-00327. Kohinoor City Office Towers Industrial Estate & Premises Co-op. Society Ltd. filed an…

- **Court:** NCLT
- **Order date:** 2 Apr 2026
- **Citation:** TCN-2026-NCLT-00327
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/firestar-diamond-international-private-limited-22f867f0

## Summary

### Background

Kohinoor City Office Towers Industrial Estate & Premises Co-op. Society Ltd. filed an application seeking priority payment of maintenance and property tax dues from the liquidator of Firestar Diamond International Private Limited. The dues pertain to the period when the corporate debtor's assets were under attachment by the Directorate of Enforcement (ED).

## Facts

The Applicant Society, Kohinoor City Office Towers Industrial Estate & Premises Co-operative Society Limited, is a cooperative society.

The Corporate Debtor, Firestar Diamond International Pvt. Ltd., was the registered owner of three commercial units within the Applicant Society's premises.

The said Units were attached by the Directorate of Enforcement (ED) under Provisional Attachment Orders.

The Tribunal admitted the application filed by Corporation Bank under Section 7 of the Code against the Corporate Debtor on 25th September 2019, initiating CIRP.

Mr. Ram Ratan Kanoongo was appointed as the Interim Resolution Professional.

The CoC resolved to proceed with liquidation by a majority vote of 98.25% on 16th November 2019.

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## Issues and analysis

### Issue 1: Whether the maintenance dues incurred during the CIRP period should be reclassified and paid in …

**Ratio:** A cost qualifies as a CIRP cost only if it is directly related to the Corporate

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**Reasoning:** Regulation 31(e) of the IBBI (Insolvency Resolution Process for Corporate Persons)

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**Interpretation:** Maintenance dues can be considered CIRP costs only if they are directly related

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**Application:** In this case, the CoC had not approved the maintenance dues to be treated as

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## Parties

- **Judges:** SANJIV…; Sushil Mahadeorao…
- **Appellants:** Kohinoor City…
- **Respondents:** Firestar Diamond…; Santanu T. Ray,…; +1 more
- **Other parties:** Corporatio…; Ram Ratan K…; +1 more
- **Advocates:** Nausher…; Chandragupt…; +3 more

## Timeline

- **2018-02-24 — ED Attac…**: Provisional Attachment Orders by the Directorate of Enforcement (ED) bearing No. 02/2018…
- **2018-05-21 — ED Attac…**: Provisional Attachment Orders by the Directorate of Enforcement (ED) bearing No. 06/2018…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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