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2022 (6) TMI 716 - Tri - Insolvency and BankruptcySeeking extinguishment of claim of the respondent corporation as envisioned under Clause 6 of the resolution plan - demand raised after approval of Resolution Plan - Section 60(5) read with Section 32A of the IBC, 2016 - HELD THAT:- In the present case, there was a defect in the title of the land itself and this issue has now been resolved after prolonged litigation. This fact was not a subject matter of discussion during the CIRP proceedings. The extra payment of compensation will only remedy the defect in the title to the land and PSIEC can cancel the lease as per the terms and conditions of the original allotment letter. The applicant has claimed that the demand notice can’t be sustained in view of the provisions of Section 31 of the I&B Code. The additional payment made in the demand notice is a payment towards removing the defect in the title to the land and is not linked to the CIRP. The approved Resolution Plan cannot preclude the control that PSIEC has under law to deal with its properties and the plot in question which is undeniably a public property - this Bench is of the opinion that the enhanced land compensation is a payment towards rectifying the defect in the title to the property and is not “statutory dues” within the meaning of the provisions of Section 31 of the I&B Code - the impugned demand notice issued by the Respondent Corporation is rejected. Seeking release of attached and detained goods - seeking extinguishment of claim of the respondent as envisioned under Clause 6 of the resolution plan - HELD THAT:- It is apparent that at the time of initiation of CIRP, the interest amounting to Rs.29,85,928/- stood as the liability of the applicant company towards payment of interest in view of the CESTAT order. The goods lying in the safe custody were only to secure the payment of the outstanding dues subject to the final orders of the Hon’ble High Court of Himachal Pradesh. As per the provisions of the Insolvency and Bankruptcy Code, 2016, it was the duty of the Commissionerate of Central Excise to lodge its claim before the IRP in response to as per Regulation 7 dealing with claims by operational creditors as no claim was filed during the CIRP proceedings. There is no evidence on record to suggest that any such claim was lodged. It is also noted that the alleged offenses were committed prior to the initiation of the CIRP proceedings, the provisions of Section 32A will be squarely applicable to the present case. The impugned attachment and detention orders issued by the respondent is allowed, and the respondent is directed to release the attached and detained goods and any claim of the respondent against the applicant on the issues discussed is ordered to be extinguished - Application allowed.
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