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2022 (1) TMI 65 - Tri - Insolvency and BankruptcySeeking extinguishment of all the disputed and undisputed claims against the Applicant relating to the period prior to the effective date i.e. 20.09.2018 in terms of the approved Resolution Plan in respect to the tea gardens mentioned therein - HELD THAT:- The Hon’ble Supreme Court of India in the matter of Committee of Creditors of Essar Steel India Ltd. Vs. Satish Kumar Gupta & Ors. [2019 (11) TMI 731 - SUPREME COURT] upheld the constitutional validity of the Insolvency and Bankruptcy Code (Amendment) Act, 2019 has held that (d) A successful Resolution Applicant cannot suddenly be faced with “undecided” claims after the Resolution Plan submitted by him has been accepted as this would amount to a hydra head popping up which would throw into uncertainty amounts payable by the successful resolution applicant and (e) All claims must be submitted to and decided by the Resolution Professional so that a prospective resolution applicant knows exactly what has to be paid in order that it may then take over and run the business of the CD”. The prayer made by the Applicant is allowed and the demand of the Respondent for the period prior to 20.09.2018 for ₹ 30,25,057.00 (Rupees Thirty lacs Twenty Five thousand Fifty Seven) only raised in respect of six tea gardens of the Applicant is hereby extinguished and claim, if any, is filed now or in future relating to the period prior to 20th September, 2018 need not be entertained by the Resolution Applicant / Corporate Debtor - Application disposed off.
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