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NATIONAL COMPANY LAW TRIBUNAL
Prakash Joshi S/o Late Shivlal Joshi – Appellant
Versus
Shri Shikharchand Jain (C.A.) The Appointed Liquidator of M/s Dhanlaxmi Solvex Pvt Limited (in liquidation) – Respondent
NATIONAL COMPANY LAW TRIBUNAL COURT NO. 1 ITEM No.208 IA/208(MP)2023 TP 246 of 2019 [CP(IB) 515 of 2018]
Order under Section 60(5) IBC r.w Rule 11 IN THE MATTER OF:
Prakash Joshi S/o Late Shivlal Joshi ........Applicant V/s Shikarchand Jain, Liquidator of M/s Dhanlaxmi Solvex Pvt Ltd ........Respondent Coram:
Hon’ble Shri Brajendra Mani Tripathi, Member (J)
Hon’ble Shri Man Mohan Gupta Member (T)
ORDER
Delivered on 13/01/2026 The case is fixed for pronouncement of the order. The order is pronounced in open Court vide separate sheet.
Sd/- Sd/-
MAN MOHAN GUPTA BRAJENDRA MANI TRIPATHI MEMBER (TECHNICAL) MEMBER (JUDICIAL)
Neeraj
The priority of distribution of assets on liquidation as prescribed under Section 53(1) of the Insolvency and Bankruptcy Code, 2016 must be followed, and the nature of the underlying claim determines....
Income Tax claims do not qualify as secured debts in insolvency; adherence to statutory priority is crucial.
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