Legal Question in Business Law in India

An industrial property has been purchased on a Kolkata High Court order in 2006 through a private treaty under RDDB Act,1993 where buyer,seller & consortium of banks were party.There were 3 dues 1.NPA dues of the bank 2.Workers dues as per 529A 3.Sales Tax Dues which got crystallized in 2014 by order of Sales Tax Tribunal & it is huge. The purchaser paid the NPA dues in 2006 & got Sales Certificate issued(still unregistered) but now is not financially capable of meeting other dues & take the property.If the workers go to BIFR with their Revival Scheme,will they have to include the NPA dues paid by the purchaser or not?

Asked on 3/07/16, 9:11 am

0 users found helpful

0 attorneys agreed

08.03.2016

Repeat query. Already answered. Any further advice or guidance will be rendered to seeker only on prepayment.

Answered on 3/07/16, 7:06 pm

Keywords

Match Any Match All

Country

State

Area of Law