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2021 (5) TMI 784 - Tri - Insolvency and BankruptcyLiability of Purchaser of corporate debtor under liquidation under auction - Certain demand raised by the liquidator - Levy of interest on the balance sale consideration paid for sale of assets of Corporate Debtor as a going concern - seeking exemption and waiver off of interest being charged on the Applicant - applicability of TDS being charged on the Applicant - seeking Liquidator to handover peaceful possession to the Applicant of the Corporate Debtor's factory, building and machinery - HELD THAT:- After going through all the facts and documents as produced by the Applicant/Auction Purchaser is of the view that, it is matter of record that the Applicant has made made the entire payment towards the sale consideration of ₹ 18,72,00,000/- and it is only after the entire payment being made by the Applicant that the Liquidator has issued the sale certificate - Hence, now post the execution of the Sale Certificate, the demand raised by the Liquidator to the Applicant for the Interest as well as TDS is not maintainable. The Liquidator is at liberty to file for refund with the Income Tax department for the refund of TDS, if any, applicable to this case. The Liquidator is also directed to hand over the possession of the Corporate Debtors assets as per Schedule I of the Sale Certificate to the Applicant. Application disposed off.
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