TMI Blog2021 (10) TMI 301X X X X Extracts X X X X X X X X Extracts X X X X ..... by giving rest to many legal issues and clarifying the legal position, under the Doctrine of Clean Slate that all claims against the Corporate Debtor prior to CIRP and after the transfer of the assets of the Corporate Debtor to the successful Resolution Applicant to be dealt with in terms of the Resolution Plan and if not forming part of such Resolution Plan shall extinguished. In the light of the above judgement of Hon ble Supreme Court, the claim of water charges of ₹ 47,06,751/- being pre CIRP charges, the same is extinguished and stands cancelled. Hence the claim of ₹ 47,06,751/- is rejected - in view of the approval of Resolution Plan by way of order of the Tribunal on 14.10.2019 and change of constitution of taking o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... period before the Learned RP. It is hereby made clear that all the claims lodged, considered and accepted during the Corporate Insolvency Resolution Process are already made part of the Resolution Plan, therefore, subsequent to the approval of the Resolution Plan by the CoC, no such claim can be added in the proposed Resolution Plan presently under discussion. 2. The Resolution Applicant had taken possession and custody of the unit on 07.07.2020 and had initiated steps to revive the said unit wherein the production of 250 tons per day was anticipated. The person from the applicant company visited the office of the Respondent No. 1 at Solapur to enquire into the process for a new water connection. At that time the applicant was informed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent No. 1 filed its reply and contended that it was not aware of the order passed on 14.10.2019 of sanctioning of the resolution plan. But however, it was notified about the said order only on 26.06.2020. 7. The Respondent No. 1 is a statutory body under Maharashtra Development Act and promotes and assist rapid and orderly establishment, growth and development of the industries in the state of Maharashtra. Broadly the functions and powers of Corporation are to develop of industrial areas for providing amenities such as supply of water, street light, drainage sewerage etc. 8. The water connection given to Ambey Iron Private Limited was disconnected from 31.10.2004 as Corporate Debtor had not paid relevant charges. The Respondent No. 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or lease out a plot land bearing plot No. E-1 admeasuring 41,200 square meters to the Corporate Debtor for the purpose of development of industries there on. Similarly, MIDC also leased out of plot no. E- 5 admeasuring 45,925 square meters in the Chincholi industrial areas to the Corporate Debtor for the purpose of development of industry by lease deed dated 05.09.2012 the Corporate Debtor inter alia provided consent from Maharashtra Control Board and file an Application dated 09.10.2003 for providing water connection. 13. Upon scrutiny of the Application the 24 hours water connection was made available to the Corporate Debtor. In view of the failure to comply with the terms and conditions of the water supply by the Corporate Debtor the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 100% change in shareholders of the Corporate Debtor the Applicant is required to apply and pay the transfer charges and differential charges/premium charges. 18. As per the Para 11 of the reply of the Government MIDC circular dated 12.05.1998 read with circular dated 01.01.2013, the change in shareholding of the Corporate Debtor in the present case is regarded as a case of non-formal transfer and in case of such a non-formal transfer, differential premium based on construction done is levied. The said differential premium / transfer charges is calculated in the present case as follows: [i.e. {87175.00 sq. meters x (₹ 440 ₹ 60) per sq. meters. + (440-60) x 15%} x 10% which comes to ₹ 38,09,600/-. 19. The liability ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Judgment of Ghanashyam Mishra and Sons Private Limited (Civil Appeal No. 8129 of 2019 decided on 13.04.2021) the Hon ble Apex Court laid down the law by giving rest to many legal issues and clarifying the legal position, under the Doctrine of Clean Slate that all claims against the Corporate Debtor prior to CIRP and after the transfer of the assets of the Corporate Debtor to the successful Resolution Applicant to be dealt with in terms of the Resolution Plan and if not forming part of such Resolution Plan shall extinguished. The relevant portion of the Supreme Court Judgment is reproduced herein below para 95 ; 95. In the result, we answer the questions framed by us as under: (i) That once a resolution plan is duly approved by the Ad ..... X X X X Extracts X X X X X X X X Extracts X X X X
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