TaxTMI 
TaxTMI 
TaxTMI 
2021 (2) TMI 1230
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.... Private Limited against the Liquidator and West Bengal Industrial Development Corporation Limited (to be hereinafter called "WBIDC") seeking following reliefs: a. That the Liquidator's demand made by way of a letter dated 04/09/2020, being annexure "L" to the application be set aside; b. Declaration that no transfer fee to WBIDC is payable for the involuntary sale/assignment of the Corporate Debtor's residuary leasehold right to the applicant in course of liquidation sale; c. Direction upon the Liquidator to file an appeal against the order dated 10/08/2020 of the West Bengal Authority for Advance Ruling to the Appellate Authority; d. Deed of Assignment of lease be accepted by the Liquidator in favour of the applicant and t....
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....y of the hearing that had taken place before this Adjudicating Authority since June 2020. The applicant alleges that the Liquidator did not place correctly the facts before the West Bengal Authority for Advance Ruling resulting in adverse order on 10/08/2020. d. The Liquidator has also filed an application being IA (IB) No.1162/KB/2019 challenging such transfer fee. The applicant alleges that the Liquidator is not interested in having that application heard and disposed of. Therefore, the applicant has filed the present application essentially challenging the transfer fee, which in the opinion of the Liquidator is payable to WBIDC as well as for an order directing the Liquidator to file an appeal from the order dated 10/08/2020 passed by ....
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....earing on behalf of the 2nd respondent submitted that the question of transfer fee is a matter of contractual obligation and that WBIDC is entitled to collect the same. Further in terms of the order dated 29/07/2020 the applicants were supposed to bear the cost and pay all applicable fees, etc. in this regard. Arguments of Mr. Rishav Banerjee, Ld. Counsel for the Liquidator 6. Mr. Rishav Banerjee, Learned Counsel appearing on behalf of R-1/Liquidator submitted that at the time of sale the applicant had assured that they will pay all the applicable fees and GST, Transfer Fee, Stamp Duty, etc. consequent upon the rights of the Corporate Debtor being transferred to the lessee. He also quoted the judgment of the Hon'ble Supreme Court in E....
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.... forum. 10. Having held that this Adjudicating Authority cannot grant waiver from payment of applicable transfer fees, etc. to WBIDC, the only thing left to be decided in the present IA is the question as to who will bear the cost thereof. Appropriately it should be borne by the applicant concerned since it is the claimant. The applicant is, therefore, hereby directed to pay the applicable fees to the WBIDC, and if so advised, it may choose to file an appeal before the Appellate Authority for Advance Ruling in this regard. 11. The transfer fees, in question, shall be paid within a period of three weeks from today. Subject to compliance with this direction, R-2/WBIDC is hereby directed to take necessary steps to execute the necessary deed ....