MUMBAI: The Nationwide Firm Legislation Tribunal (NCLT) on Monday directed the liquidator of Cox and Kings Ltd to problem a discover to the Earnings Tax division, searching for tax refund value ₹11 crore.
Pulkitesh Dutt Tiwari, counsel representing the liquidator for Cox and Kings, knowledgeable the tribunal that he had filed an utility earlier than the NCLT searching for a refund from the tax division on behalf of the corporate.
The matter might be taken up by justice Chandra Bhan Singh on Tuesday.
In October 2019, NCLT had accredited Rattan India Finance’s plea to file an insolvency petition towards Cox & Kings for defaulting on a mortgage of ₹30 crore.
At present, the debt laden agency owes round ₹7,422 crore to its monetary and operational collectors.
The committee of collectors had voted in favour of liquidation in March 2021 after the corporate failed to search out any purchaser.
Tiwari additionally knowledgeable the tribunal that the corporate had paid a safety deposit of two.32 crore to its landlord for workplace house in Gurugram, which was denied by the owner, including that the decision skilled was not allowed to enter workplace premises to gather the corporate’s property.
The bench has directed the owner to permit the corporate take their movable property and repay the safety deposit.
Supply: Live Mint