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TMI Blog2022 (1) TMI 105X X X X Extracts X X X X X X X X Extracts X X X X ..... '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 prayer of the petitioner at this stage is only li ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 discharged from the purview of the Scheme. This is reflected i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order was passed to the effect that no coercive action would be taken against the Petitioner pursuant to the notice of assessment which had been permitted to be proceeded with by the Court on 8th December, 2014 with the direction that no final order would be passed in those proceedings. The net effect is that there is an interim protection in favour of the Petitioner preventing any coercive action being taken against it. 11. In view of the above directions, whereby the Court has directed that NCLT should proceed with the application pending before it, this Court further directs that the aforementioned interim order dated 18th December, 2019 will continue till such time the NCLT issues appropriate interim directions in the matter at the re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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