TMI Blog2019 (10) TMI 53X X X X Extracts X X X X X X X X Extracts X X X X ..... be less than the amount to be paid to the Operational Creditors in the event of a liquidation of the Corporate Debtor under Section 53. The part of the impugned order dated 14th September, 2018 is set aside - rest part of the impugned order approving the Resolution Plan is upheld - appeal allowed in part. - Company Appeal (AT) (Insolvency) No. 699 of 2018 - - - Dated:- 30-5-2019 - Justice S.J. Mukhopadhaya (Chairperson) AND Justice Bansi Lal Bhat, Member (Judicial) For the Appellant: Mr. Sanyam Goel, PCS, Mr. Sumant Batra, Ms. Pooja Mahajan, Mr. Mohtashim Kibriya, Ms. Srishti Kapoor and Ms. Mahima Singh, Advocates. For the Respondent: Mr. Akshay Goel, Mr. Sugam Seth and Mr. Kinshuk Chatterjee, Advocat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and the decisions of the Hon ble Supreme Court including B. Premanand and Others vs. Mohan Koikal and Others─ (2011) 4 SCC 266 ; M/s. Hiralal Rattanlal Etc. vs. State of UP and Another etc.─ (1973) 1 SCC 216 and Babu Manmohan Das Shah Ors. vs. Bishun Das─ AIR 1967 SC 643 to suggest that there is no necessity to seek aid from anywhere else for the purpose of providing any purposive interpretation if there is no ambiguity in the meaning of Operational Debt . 4. Other arguments were also advanced, but it is not necessary to record all the submissions in view of the fact that the matter stands decided. 5. Mr. Rajiv Ranjan, Senior Advocate along with Mr. Sugam Seth, Advocate appeared as Amicus Curiae ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... would include a claim in respect of the provision of goods or services, including employment, or a debt in respect of payment of goods or services, including employment, or a debt in respect of payment of dues arising under any law and payable to the Government or any local authority. 28. From the plain reading of sub-section (21) of Section 5, we find that there is no ambiguity in the said provision and the legislature has not used the word and but chose the word or between goods or services including employment and before a debt in respect of the payment of dues arising under any law for the time being in force and payable to the Central Government, and State Government or any local authority . 29. Operational D ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
