JUDGMENT :

(Prayer in Application No.35 of 2021: This Application has been filed under Order II Rule 1 of Insolvency Rules R/W Section 7 of PTI Act, 1909 praying to waive the interest in full and order immediate release of the entire amount of Rs.2,42,27,764/- pertaining to AY 2008 -2017 (excluding AY 2011 - 2012), held in fixed depositsby Official Assignee towards interest demand from Income Tax Department along with accrued interest to the Petitioner, without further delay.

Application No.36 of 2021: This Application has been filed under Order II Rule 1 of Insolvency Rules R/W Section 7 of PTI Act, 1909 to direct the Income Tax Department to refund the excess tax remittance by Respondent in March 2018 amounting to Rs.4,00,000/- to the Petitioner without further delay.)

1. The ex-insolvent has filed two applications seeking: (i) waiver of interest in full and for the immediate release of the sum of Rs.2,42,22,764/- held in fixed deposits by the Official Assignee towards the interest demand of the Income Tax Department; and (ii) to direct the Income Tax Department to refund the excess tax remittance by Respondent in March 2018 amounting to Rs.4,00,000/- to the Petitioner without furth