2022 (1) TMI 105

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ment, Finance Department rejecting PPL's representation seeking tax concession/relief pursuant to the order of the Board for Industrial and Financial Reconstruction (BIFR) in Case No.238 of 2003. 2. This is the second round of litigation in this Court at the instance of the Petitioner. 3. Earlier the PPL had filed W.P.(C) Nos.27858 and 27859 of 2013 in which this Court passed the following order on 15th January, 2014: "We are of the view that in view of the law laid down by the Hon'ble Supreme Court in the case of State of Karnataka v. Vishwabharathi House Building Co-op. Society & Ors., AIR 2003 SC 1043, the remedy of the petitioner is to approach the Board/Tribunal itself for implementation of its order. However, since the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of this Court in the aforementioned order dated 15th January, 2014, the Petitioner in fact has filed an application before the BIFR, on 18th June, 2014 and the BIFR had issued a notice on 8th January, 2015. The said application is at present pending before the National Company Law Tribunal (NCLT), Cuttack Bench, Cuttack. 7. The Court is informed that on 31st August, 2021, the NCLT had passed an order to the effect that in view of the pendency of the present writ petition, it would prefer awaiting the outcome of the present petition before passing further orders in the said application. 8. Another development which appears to have taken place is that since the year 2011 the net-worth of PPL turned positive and it asked that it be disc....