TMI Blog2020 (8) TMI 347X X X X Extracts X X X X X X X X Extracts X X X X ..... Resolution Professional, despite the knowledge of the Corporate Insolvency Resolution Process against the Corporate Debtor Uttam Strips Ltd, therefore the Appellants does not have any right to claim its dues from the acquiring Company, i.e. Jyoti Strips Ltd. The approved Resolution Plan is binding on all the stakeholders; therefore, the Appellant is abode by the terms of the Approved Resolution Plan. No interference is called for against the impugned Order dated 18th December 2019 - In the impugned Order, the statutory dues have been treated as Operational Debt and equated them with similarly situated Operational Creditors - impugned order upheld. - Company Appeal (AT) (Insolvency) No. 319 of 2020 - - - Dated:- 23-6-2020 - [Justice Venugopal M.] Member (Judicial) , [V. P. Singh] Member (Technical) And [Alok Srivastava] Member (Technical) For the Appellant : Mr Alok Sharma, Advocate For the Respondent : Mr Ankur Mittal and Ms Jasveen Kaur, Advocates for R-1 3 JUDGMENT [ Per; V. P. Singh, Member (T) ] This Appeal emanates from the Impugned Order dated 18th December 2019 passed by the Adjudicating Authority/National Company Law Tribunal, Delhi Bench, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9,03,665/- 4. 85/2016-17 12.7.19 151445120 Nil 1,25,29,584/- Total dues (Rs.) 1,95,62,231/- 4. The Appellant contends that for four Assessment Years, i.e. 2013-14 to 2016-17 total outstanding Dues against the Corporate Debtor is ₹ 1,95,62,231/- (Rupees One Crore Ninety-Five Lacs Sixty Two Thousand Two Hundred Thirty One only). The Appellant/Excise Taxation Officer-cum-Assessing Authority in the first week of June 2019 and vide email dated 04th June 2019 came to know about the CIRP initiated against the Corporate Debtor, immediately after that, they contacted Mr Navneet Kumar Jain, IRP and submitted the Proof of Claim along with the Assessment Orders and Tax Demand Notices for Assessment Years 2013-14 to 2016-17 in the prescribed manner. But the IRP, vide email dated 04th June 2019, informed that he is not dealing with the case. It is contended that due to non-cooperation of the IRP and lack of information/notice from any sourc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Strips Limited by its Order dated 06th June 2019, which was finally approved by the Adjudicating Authority. It is also on record that the Appellant/Excise Taxation Officer-cum-Assessing Authority assessed the tax ₹ 1,95,62,231/-, for the year 2013-14 to 2016-17 on the corporate debtor. 7. The I B Code envisages the treatment of all debts, whether statutory or contractual, operational or financial, secured or unsecured, arising out of or related to a period prior to the Insolvency Commencement Date, be brought under a common umbrella, so as to enable the Resolution Applicant to comprehensively deal with them. The main objective required to be served is that once a treatment is given to the debts under the Resolution Plan, no other action may be taken either against the Corporate Debtor or against a Resolution Applicant who acquires the Corporate Debtor through the Corporate Insolvency Resolution Process. 8. As per the statutory provision, a Resolution Applicant stepping into the shoes of the corporate debtor, by acquiring the Corporate Debtor undergoing CIRP, should be given a fresh slate to be able to effectively revive the Corporate Debtor and fulfil the purpose of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the approved Resolution Plan. 11. In the case of Pr. Director General of Income Tax (Admn. TPS) vs M/s Synergies Doorway Automotive Ltd. Ors. [Company Appeal (AT) (Insolvency) No.205 of 2017], while considering the issue of whether Income Tax , Value Added Tax or other statutory dues, such as Municipal Tax , Excise Duty , etc. come within the meaning of Operational Debt or not, this Tribunal has held that all such dues shall fall within the definition of Operational Debt under Section 5(21) of the IB Code. 12. Further, the Resolution Plan submitted by the Resolution Applicant has provided a mechanism for the treatment of operational dues. Once a Resolution Plan is approved by the NCLT, all dues, whether financial or operational, have to be dealt with in the manner provided under such Resolution Plan. Even otherwise, any creditor of the Corporate Debtor should not be allowed to raise such belated claims and challenge the approved Resolution Plan, much after its implementation. 13. That insofar any contingent liabilities or claims are concerned, or any creditors who failed to file any claim during CIRP, the same were duly accounted for in the Resolution Plan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Creditor dated 11th November 2019, which is from page No. 41 to 53 of the paper book. 16. The Appellant further contends that he got to know about the CIRP initiated against the Corporate debtor on 04th June 2019 vide email. It is also claimed that he contacted the Insolvency Resolution Professional Mr Naveen Kumar Jain and submitted the proof of claim along with the assessment order and tax demand notices from 2013-14 to 2015-16. But he informed that he is not dealing with the case. It is further stated by the Appellant that due to the Haryana Assembly Election, he could not submit the claim before the Resolution Professional. It is also contended that Counsel was engaged by State of Haryana, who had informed about the approval of Resolution Plan dated 06th June 2019. Appellant also alleges that he submitted fresh claims along with updated proof of claim on 11th November 2019, to the Mr Sanjay Gupta Resolution Professional. But he didn't receive any reply of Mr Sanjay Gupta after that application was filed under Section 60(5) of the Code before the Adjudicating Authority, which has been rejected by the impugned Order. 17. It is beyond doubt the claims of the Appellant i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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