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IN THE NATIONAL COMPANY LAW TRIBUNAL DIVISION BENCH, COURT -1, AHMEDABAD ITEM No.301 - 1A/952(AHM)2026 In C.P.(IB)/409(AHM)2025 Under Section 60(5) r. w. Section 14 of IB Code, 2016 r. w. Rule 11 of NCLT Rules, 2016 IN THE MATTER OF:

Varun Anil Chopra RP of Demac Technologies Pvt. Ltd ... Applicant V/s Income Tax Department through Deputy Commissioner ... Respondent Circle, Vadodara Order delivered on: 25/08/2026 CORAM:

MR. SHAMMI KHAN, HON'BLE MEMBER (J)

MR. SANJEEV SHARMA, HON'BLE MEMBER (T)

ORDER (Hybrid Mode)

The case is fixed for pronouncement of order. The order is pronounced in the open court, vide separate sheet.

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SANJEEV SHARMA SHAMMI KHAN MEMBER (TECHNICAL)

MEMBER (JUDICIAL)

BEFORE THE ADJUDICATING AUTHORITY NATIONAL COMPANY LAW TRIBUNAL DIVISION BENCH, COURT-I, AHMEDABAD IA/952(AHM)2026 In CP(IB) 409 of 2025 (Application under Section 60(5)(c) read with Section 14 of the Insolvency and Bankruptcy Code, 2016 read with Rule ] 1 of NCLT Rules, 2016)

MEMO OF PARTIES Varun Anil Chopra RP of Demac Technologies Private Limited Having IBBI Regn. No. IBBI/1PA-001/ 1P-P-02950/2025-

2026/14525 Having address at: C-1002, Ashirvad Avenue, VIP Road, Opp Shyam Baba Mandir, Althan, Surat, Gujarat - 395007 Email: ipvarunchopra@gmail.com .... Applicant VERSUS Income Tax Department Through Deputy Commissioner, Circle I(1)(1) Vadodara Having address at:

Ist Floor, Room No. 103, Aaykar Bhawan, Race Course Circle, Vadodara, Gujarat — 390007 E: BARODA.DCITI. Ll@incometax.gov.in .... Respondent Order Pronounced On: 25.08.2026 CORAM:

SH. SHAMMI KHAN, HON’BLE MEMBER (JUDICIAL)

SH. SANJEEV SHARMA, HON’BLE MEMBER (TECHNICAL)

APPEARANCE:

For the Applicant : Ms. Pragati Tiwari, Adv. a.w.

Mr. Vedant Dave, Adv.

For the Income Tax : Ms. Kinjal Trivedi, Jr. Standing Department Counsel ORDER (Per: Bench)

1. This Interlocutory Application has been filed on 17.06.2026 by Mr. Varun Anil Chopra, Resolution Professional of Demac Technologies Private Limited (hereinafter referred to as the “Applicant/RP”), under Section 60(5)(c) read with Section 14 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the “IBC/ Code”), and Rule 11 of the National Company Law Tribunal Rules, 2016, seeking, inter alia, reversal of the adjustment/set-off of Rs.41,64,728/- made by the Respondent/Income Tax Department against the income-tax refund payable to the Corporate Debtor and release of the said amount to the Corporate Debtor under the control of the Resolution Professional.

2. The Applicant has, inter alia, sought a declaration that the adjustment/set-off of the income-tax refund against the pre-

CIRP income-tax dues of the Corporate Debtor is contrary to Section 14 of the IBC and is therefore illegal, and a consequential direction to the Respondent to reverse the adjustment and credit/release Rs.41,64,728/- to the designated bank account of the Corporate Debtor. The Applicant has also prayed for applicable statutory interest and for appropriate directions restraining recovery, adjustment or appropriation of pre-CIRP dues during the subsistence of the moratorium.

3. The brief facts necessary for adjudication are that CP(IB)

No. 409 of 2025, filed by Sarens Heavy Lift India Private Limited under Section 9 of the Code against Demac Technologies Private Limited, was admitted by this Adjudicating Authority on 20.01.2026, whereby CIRP was commenced against the Corporate Debtor and Mr. Chintan Shroff was appointed as the Interim Resolution Professional (IRP). Consequently, moratorium under Section 14 of the Code came into operation from the insolvency commencement date.

4. The IRP made the public announcement on 23.01.2026 under Section 15 of the Code read with Regulation 6 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, inviting claims from the creditors. The Respondent/Income Tax Department submitted its claim in Form B on 16.02.2026 in respect of an alleged pre-CIRP tax demand of Rs.35,1