BOARD FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION

Case No.70/2006 Duncans Industries Ltd. (DIL)
(ii)
(iii)
All licenses / permissions / pollution and other consents / approvals in
respect of Fertilizer Undertaking including lapsed shall stand revived /
restored immediately for a period of three years in the name of KFCL
from the date of sanction of the Scheme, to enable KFCL to
recommence commercial production in lawful manner.
To exempt DIL, its Directors / Officers from any penalties / additional
charges / proceedings/ penal provisions in respect of any past defaults,
omissions / acts. KFCL shall not be liable in respect of defaults and
omissions prior to the date of the de-merger of the Fertiliser Undertaking
in terms of the scheme.
(iv) To accept payment of any other undisputed dues / levies of the State /
quasi Govt. Departments (including Kanpur Nagar Mahapalika /
Corporation) / Kanpur Cantonment Board after waiver of all
penalties / interest / claims etc. over a period of three years after a
moratorium period of one year from the date of sanction of the
Scheme.
(v)
To provide any other relief, benefits and concessions available to
the sick companies as per the policy of the State Government for
rehabilitation of the sick companies.
15.12 Trade Tax Department, Govt of UP - with respect to Trade Tax,
Sales Tax, Central Sales Tax, VAT, Entry Tax, Turnover Tax,
Purchase Tax:
In respect of DIL / KFCL: To Consider:
(i)
(ii)
(iii)
(iv)
To condone delay in submission of sales tax / turnover tax / entry
tax / VAT returns and forms related thereto and grant time of 24
months for submitting the same from the date of sanction of the
Scheme.
To set aside all ex-parte assessment orders from the financial year
2000-2001 and onwards or appeals / penalties and make
reassessment after providing opportunity of being heard to DIL/
KFCL in the matter.
To continue the registration certificates under State and Central
Sales Tax Act / Vat Act in the name of KFCL.
To waive interest, penalties levied / to be levied on account of
delayed payment of dues in respect of the past period upto the
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