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Insolvency and BankruptcyJune 20, 2022Case LawsTri
CIRP - seeking extinguishment of Property Tax/ Municipal Tax dues and Land Revenue Tax dues - The liquidator had followed the complete algorithm as enshrined in the Code for carrying out the liquidation process, which included public announcement for invitation for the claims. Despite that R2 & R3 have not cared to lodge their claim, if any, before the liquidator and have not taken any steps to approach this Adjudicating Authority in good time to make any representation in this regard and therefore now they are estopped from raising the claims at this date. - Tri
CIRP - seeking extinguishment of Property Tax/ Municipal Tax dues and Land Revenue Tax dues - The liquidator had followed the complete algorithm as enshrined in the Code for carrying out the liquidation process, which included public announcement for invitation for the claims. Despite that R2 & R3 have not cared to lodge their claim, if any, before the liquidator and have not taken any steps to approach this Adjudicating Authority in good time to make any representation in this regard and therefore now they are estopped from raising the claims at this date. - Tri
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TaxTMI 
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