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2022 (9) TMI 732 - HC - VAT and Sales TaxRemoval of attachment in the records of the Sub- Registrar in respect of the properties - creation of charge by the petitioner in respect of the schedule properties - fixation of priority of charges by the Court - HELD THAT:- The sale certificate in favour of R4 has been kept apart in a separate interest bearing marked account. Let this position continue for the present since the report filed by the Official Liquidator brings to notice of the Court that while the balance sheet of R2 as on 31.03.2014 reveals the outstanding loan amount at Rs.8,03,56,460/-, the claim of the consortium is of a sum of Rs.114.27 crores, together with future interest - The Official Liquidator has requested that a break-up of the demand be supplied by the Consortium and the discrepancy in the amounts be clarified. Though this report of the Official Liquidator has been supplied to learned counsel as early as on 03.12.2019, no objection has been filed till date in this regard. Thus, clearly the aspect of quantification has to be looked into to determine the exact amount to be appropriated by the petitioner. Fixation of priority of charges and such priority has been fixed by this Court - HELD THAT:- The question of quantification is left to be decided by the petitioner and the Official Liquidator appearing for R2 for which purpose the petitioner will furnish the break-up as sought for. Necessary orders be passed by the Official Liquidator within a period of twelve (12) weeks from today. It is directed that the sale consideration remain untouched and in suspense, till such time, the exercise of quantification is complete - petition allowed.
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