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2021 (4) TMI 1075 - Tri - Insolvency and BankruptcyAppointment of valuer for ascertaining the value of the land of the corporate debtor (CD) being industrial in nature - HELD THAT:- On perusal of this memo dated 14.01.2021, it appears that there are two demands in it. One is about charges over the change of land use (CLU) amounting to ₹ 23,96,30,131; another is Property & Fire Tax amounting to ₹ 17,82,443. The point taken into consideration is, this memo was issued only after Honourable Supreme Court upheld the order passed by Honourable NCLAT. With regard to second item, in case it is to collect any property tax, it has to proceed against the successful bidder if any tax is payable after liquidation process is closed, because this applicant has not raised its claim before sale process. The Honourable NCLAT also factually observed that the agriculture land falling into high potential zone is not permitted to allow industrial units to come up. It has further held that the land was sold on "as is where is" basis. Besides this, Honourable NCLAT has held that no final agreement was entered into for conversion. On the observations above, when the Honourable NCLAT dismissed the Appeal by upholding the order of this Bench stating that the land is agriculture in character, then the appellant before NCLAT approached Honourable Supreme Court, there also it was held that the Supreme Court is not inclined to interfere with the order of NCLAT. It is not that Honourable Supreme Court has not examined the issue after MCF filed an affidavit; it indeed examined the affidavit of MCF, and then only made observation of non-interference, therefore the Honourable Supreme Court has set this issue at rest by giving finality to the order of NCLAT. Once any finality is achieved over any issue, the order that has given finality will be binding on all the interested parties. Here whether the land is to be considered as agricultural or industrial in character has already been decided by NCLT, then by National Company Law Appellate Tribunal and finally by Hon'ble Supreme Court, therefore such order cannot be reopened and examined by this Bench. There are no merit in this application seeking conversion and revaluation of the assets already sold to the successful bidder - application dismissed - List all other pending applications for hearing on 06.04.2021.
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