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2022 (4) TMI 777 - Tri - Insolvency and BankruptcyApproval of Resolution Plan - Section 60(5) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- While the matter came up on 26.11.2021, both the parties were directed to sit together and decide the dues and settle the matter in accordance with the provisions of IBC. The Applicant was also directed to pay the amount of dues so arrived at without further loss of time. The Respondents were also directed to find out the left over amount of dues and to intimate the same to the Petitioner. In pursuance of the directions of this Bench vide orders dated 30.09.2021 and 26.11.2021, the Applicant paid an amount totalling to ₹ 20,10,817.75/- to the Respondents computed after 20.09.2018 against the demand notices issued by the Respondents in respect of the 14 tea gardens and ₹ 2,20,661.25.00 remain to be adjusted against excess payment made in respect of certain tea gardens. The settlement made in respect of the gardens post approval of the resolution plan has been enclosed in the affidavit of compliance at page 14 and the supplementary affidavit submitted by the Applicant at page 4 to 9. Since the Respondents have not filed any claims for the period from 1986-87 except 2012-14 and 2014-15 before the Resolution Professional/before the approval of the Resolution Plan, the left over claims of the Respondents from 1986-87 till the approval of the Resolution Plan, if it has been filed now or to be filed in the future, is not to be entertained by the Resolution Applicant/Corporate Debtor. The demand of the Respondent, prior to the date of approval of the Resolution Plan by this Bench, is hereby extinguished. Application disposed off.
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