Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + AT Insolvency and Bankruptcy - 2022 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (12) TMI 730 - AT - Insolvency and BankruptcyCIRP - Recovery of dues of central excise duty form Corporate debtor - Revenue has not filed the claim when it was invited by the RP - non-provisioning for outstanding statutory dues of the Corporate Debtor (CD) plus interest at applicable rate in the Resolution Plan etc - HELD THAT:- It is not in dispute that the Appellant/ Commissioner of Custom and Excise, Jaipur -I has not filed the claim while it was so notified by the RP. Even the claim has not been filed at the belated stage prior to approval of Resolution Plan by the CoC. The Appeal has been filed after the plan has been approved by the Adjudicating Authority. As a result of which the Appellant has not complied with the provisions of Section 13 & 15 of the Code - At this belated stage no fund is available out of the kitty of the Resolution Plan which can be earmarked to the Appellant as informed by the RP and the Resolution Applicant also. Both Resolution Applicant and RP has confirmed implementation of the plan and nothing remains to be adjudicated. It is very much clear that Section 238 of the Code provides very clearly that provisions of this Code to override other laws as also section 14 of the Code provides for moratorium during CIRP. Appeal dismissed.
|