Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2020 (12) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (12) TMI 755 - Tri - Insolvency and BankruptcyPayment of licence fees to the Applicants for the CIRP period as CIRP costs - Individual claims of Applicant No.1 and Applicant No. 2 as financial creditors - whether the Applicants are entitled to payment of license fee, for the period between 15.01.2018 and 23.01.2019 and the quantum of the same on the basis of the IT returns filed before passing of the order? - HELD THAT:- The contention of the applicants that it was impossible for them, to file the ITR by anticipating the requirement stated in the Hon’ble NCLAT order and that the findings of the Appellate Tribunal cannot be held against the applicants as they have filed the ITRs within the last dates - that part of the order of Hon’ble NCLAT has to be implemented by the respondents. There is no averment in the reply of any of the Respondents that the Hon’ble NCLAT rejected the claim of the applicants regarding the payment of Licence fee. The only contention is that the applicants have not furnished the Income Tax Returns, prior to the order of Hon’ble NCLAT. Due to Covid-19 Pandemic, the time for submission of IT Return was extended and the applicants have filed the IT Returns and produced the proof of submission. The contention of the respondents on this core is to be rejected partly. It is found from the chart submitted by the Respondent No.2- Resolution Professional that no amount is payable to Applicant No.1/ MIPL in respect of the factory premises since it was not used for CIRP as a "going concern". This statement has not been rebutted by the applicants in their rejoinder. Therefore, this Tribunal is of the view that the respondent- Resolution Applicant is bound only to pay the licence fee claimed by the Applicant No.2. Since the 2nd Applicant- M/s Grove Limited have not refunded the security deposit of ₹ 50 Lakhs, the 3rd respondent is bound to pay the licence fee deducting the amounts of ₹ 50 Lakhs with the interest, if any. Application allowed in part.
|