JUDGMENT

1. The present Interlocutory Application is filed before this Tribunal under the provision of Section 60 (5) of the Insolvency and Bankruptcy Code, 2016 (“IBC”) read with Rule 11 of the National Company Law Tribunal, Rules 2016. The Applicant seeking the following substantive:

a) Set aside the demand notice No. SH/ST-II/VAT/M-115/145 dated 27.09.2024 issued by the Respondent under the Meghalaya Value Added Tax Rules, 2005 assessed under MVAT Act 2003, to Shri George Kharsati, the erstwhile director of Maxim Infrastructure & Real Estate Private Limited (Applicant) for a demand of Rs. 25,60,67,387/- (Rupees Twenty Five Crore Sixty lakh Sixty Seven Thousand Three Hundred and Eighty Seven), allegedly due by the Applicant for the period 30.09.2011 till 30.06.2017;

b) Set aside the demand notice No. SH/ST-II/VAT/M-115/145 dated 27.09.2024 issued by the Respondent under the Meghalaya Value Added Tax Rules, 2005 assessed under MVAT Act 2003, to Narayan Prasad Jhunjhunwala, the erstwhile director of Maxim Infrastructure & Real Estate Private Limited (Applicant) for a demand of Rs. 25,60,67,387/- (Rupees Twenty Five Crore Sixty lakh Sixty Seven Thousand Three Hundred and Eighty Seven)