2023 (12) TMI 1218

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....2023 - -<br>Insolvency & Bankruptcy<br>[Justice Ashok Bhushan] Chairperson , [Mr. Barun Mitra] Member (Technical) And [Mr. Arun Baroka] Member (Technical) For the Appellant : Mr. Saurabh Kalia, Mr. Karan Kaushal and Mr. Kartik Kaushal, Advocates For the Respondent : Mr. Abhishek Anand, Mr. Karan Kohli and Ms. Jasleen Singh Sandha, Advocate for Erstwhile RP ORDER ( Hybrid Mode ) This....

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.....1 Basis of Resolution Plan The Resolution Plan is based on the "Information Memorandum" and other details available from Resolution Professional and information taken Public Domain. ACQUISITION PLAN Resolution Applicant has widely explored the corporate debtor through visits at Project sites, Information received from Resolution Professional and from own sources. Based ....

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....s been received by RP and utilized during CIRP. Similarly, GST input balance is being utilized during CRIP also. We understand that the corporate debtor is a going concern and therefore GST input and income tax refund are dynamic figures and keep on changing during CIRP. The RA, therefore proposes to acquire all the GST Input including GST cash ledger balance and income tax refund amount under the....

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.... 9,15,34,742 Temporary structure &nbsp; &nbsp; Total 12,75,49,431 66,09,931 ..." Learned Counsel for the Appellants submit that SRA has taken liability of Rs.1 crore only of uncrystallised claim. It is submitted that on the effective date, there should be crystallised amount and no liability can be fastened on the Appellant and the SRA could not have only taken liability....