Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + AT Insolvency and Bankruptcy - 2023 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (8) TMI 258 - AT - Insolvency and BankruptcyChallenge to approval of Resolution Plan - approval of the plan challenged on the ground that claim admitted of the Appellant was Rs.27,91,64,187/- whereas in the plan only an amount of Rs. 58,58,444/- has been allocated - HELD THAT:- Similar issues were answered by this Tribunal in DEPARTMENT OF STATE TAX, THROUGH THE DY. COMMISSIONER OF STATE TAX VERSUS ZICOM SAAS PVT. LTD. & ANR. [2023 (2) TMI 1170 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] where it was held that The Appellant having been treated as Operational Creditor allocation of amount in the Resolution Plan cannot be said to be in violation of Section 30 (2)(b). We thus are of the view that no ground has been made to interfere with the Impugned Order. The issues raised in the present Appeal are fully covered by the judgment of this Tribunal in Department of State Tax, Through the Dy. Commissioner of State Tax vs. Zicom Saas Pvt. Ltd. & Anr. - appeal dismissed.
|