https://www.taxtmi.com/caselaws?id=450244 The Calcutta HC dismissed a petition challenging notices issued by WBIDC demanding transfer fees for Kharagpur land. Petitioners sought declaration that they were not liable to pay transfer fees and mandamus to cancel the notices. The court held that petitioners misled the court by claiming waiver of transfer fees was approved by NCLT, NCLAT and SC, when clause 15.15.5 of the Resolution Plan regarding waiver was not approved by any forum. The court ruled that change in shareholding does not constitute transfer of leasehold interest requiring permission fees, but found the impugned notices were in conformity with Resolution Plan terms as no exemption was sought from appropriate authorities prior to notice issuance. en-us Thu, 29 Feb 2024 00:00:00 +0530 Fri, 01 Mar 2024 07:31:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450244 The Calcutta HC dismissed a petition challenging notices issued by WBIDC demanding transfer fees for Kharagpur land. Petitioners sought declaration that they were not liable to pay transfer fees and mandamus to cancel the notices. The court held that petitioners misled the court by claiming waiver of transfer fees was approved by NCLT, NCLAT and SC, when clause 15.15.5 of the Resolution Plan regarding waiver was not approved by any forum. The court ruled that change in shareholding does not constitute transfer of leasehold interest requiring permission fees, but found the impugned notices were in conformity with Resolution Plan terms as no exemption was sought from appropriate authorities prior to notice issuance. Case-Laws Insolvency and Bankruptcy Thu, 29 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450244