-
NCLAT Rejects Tax Claim: The National Company Law Appellate Tribunal (NCLAT) has dismissed a petition filed by the state tax department claiming dues from Reliance Communications ¹.
-
Reason for Dismissal: The claim was made after the initiation of the Corporate Insolvency Resolution Process (CIRP) against the debt-ridden firm ¹.
-
Approved Sale of Assets: NCLT Mumbai approved the sale of some of Reliance Communications’ real estate assets in December last year [1).
The National Company Law Appellate Tribunal (NCLAT) has upheld the decision of the Mumbai bench of the National Company Law Tribunal (NCLT) to reject the state tax department’s claim of Rs 6.10 crore from Reliance Communications ¹. The claim was filed after the initiation of the Corporate Insolvency Resolution Process (CIRP) against the company on June 22, 2019 ¹.
The state tax department had filed two claims, with the first claim of Rs 94.97 lakh being admitted by NCLT as it was filed before the initiation of CIRP ¹. However, the second claim of Rs 6.10 crore was rejected as it was based on an assessment order passed in 2021, after the CIRP began ¹. The Committee of Creditors (CoC) of RCom approved the CIRP on March 2, 2020 [1).
