# In the matter of Firestar Diamond International Private Limited

> NCLT judgment dated 2026-04-02. Citation: TCN-2026-NCLT-00322. Kohinoor City Office Towers Industrial Estate & Premises Co-op. Society Ltd. filed an…

- **Court:** NCLT
- **Order date:** 2 Apr 2026
- **Citation:** TCN-2026-NCLT-00322
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/firestar-diamond-international-private-limited-74a0ff6b

## 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 applicant argued that certain dues should be classified as CIRP costs or liquidation costs.

## Facts

Kohinoor City Office Towers Industrial Estate & Premises Co-op. Society Ltd. is a cooperative society and the applicant.

Firestar Diamond International Private Limited is undergoing liquidation.

The Corporate Debtor's assets were attached by the Directorate of Enforcement (ED) under Provisional Attachment Orders.

The CIRP was initiated on 25th September 2019, and liquidation commenced on 26th February 2020.

The Applicant Society submitted claims for maintenance and BTU Chiller usage charges.

The Liquidator admitted a portion of the claim as operational debt.

The Applicant Society filed a supplementary claim which was not acknowledged.

The Liquidator sold the Corporate Debtor's units free of encumbrances and liabilities.

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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 only be considered CIRP costs if they are directly related

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**Application:** Since the CoC did not approve the maintenance dues as CIRP costs, and the

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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 — Provisional Attachment…**: Directorate of Enforcement issued…
- **2018-05-21 — Provisional Attachment…**: Directorate of Enforcement issued…

## 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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