9911796707
TMI Blog2021 (2) TMI 1230X X X X Extracts X X X X X X X X Extracts X X X X ..... the issue of waiver from transfer fee shall have to be raised by the applicant before the appropriate forum. Having held that this Adjudicating Authority cannot grant waiver from payment of applicable transfer fees, etc. to WBIDC, the only thing left to be decided in the present IA is the question as to who will bear the cost thereof. Appropriately it should be borne by the applicant concerned since it is the claimant. The applicant is, therefore, hereby directed to pay the applicable fees to the WBIDC, and if so advised, it may choose to file an appeal before the Appellate Authority for Advance Ruling in this regard. Application disposed off. - IA(IB) NO. 1079/KB/2020 in CP (IB) No. 338/KB/2018 - - - Dated:- 2-2-2021 - Rajasekhar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom the said application; f Direct the Liquidator to refund the entire sale consideration of ₹ 15.50 Crores in terms of order of this Adjudication Authority together with interest. 3. The facts leading up to the present application are as follows:- a. By orders dated 24/02/2020 and 12/03/2020, the applicant herein was declared the successful bidder for ₹ 15.50 Crores for the assets of the Corporate Debtor. At the hearing WBIDC was represented and so also the Liquidator. The Liquidator's contentions recorded in the order that the applicant should be held liable for GST, transfer fee, etc. was not allowed, according to the applicant. b. The applicant contends that the question of transfer fee in terms of Sublease D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... restrictions on transfer will not apply to an involuntary transfer. In this regard, he quoted the judgment of the Hon'ble Calcutta High Court in Keshab Chandra Pramanik v. Ajahar Ali Biswas, AIR 1916 Cal 175 dated 22.12.1914. Further in the context of sale by the Liquidator, the Learned Senior Counsel quoted the judgement of the Hon'ble Bombay High Court in Transpower Engineering Ltd. (in Liquidation), Metal Tubes and Rolling Mills dated 26.07.2018. This is a case u/s. 446 of the Companies Act, 1956 wherein the Hon'ble Bombay High Court held that sale of leasehold rights by the Official Liquidator pursuant to order of the Court will be formal and involuntary transfer. In this case, it was held that it would not be an involuntar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r as present application is concerned, the Liquidator has no role to play except to sign the deed as a confirming party as and when fee is paid to WBIDC. 7. The sub-lease deed dated 06/08/2010 has been placed as Annexure T at page 78 of the application. 8. The issues involved in the present appeal are really very simple - a. whether at all transfer fee is payable since it is a case of involuntary transfer? and b. if it is payable, then who would bear the costs of the same. 9. After hearing the submissions of the Learned Senior Counsel for the applicant and the Ld. Counsel appearing on behalf of the respondents, we are of the view that since there is already an order dated 10/08/2020 passed by the West Bengal Authority for Adv ..... X X X X Extracts X X X X X X X X Extracts X X X X
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