TMI Blog2022 (7) TMI 690X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of pending Suit or proceedings against the Corporate Debtor including execution of any judgment, decree, or order in any Court of law, Tribunal, Arbitration Panel or other authorities, shall be prohibited during the moratorium period. The period of moratorium shall have the effect from the date of such order till the completion of CIRP; or if, during the CIRP period, Hon‟ble NCLT approves the resolution plan under section 31(1) or passes an order for liquidation of corporate debtor under section 33 of the Code, moratorium shall cease to have effect on date of such order. It has not been disputed by either of the parties that moratorium period is still continuing in the present case. We find that the Hon‟ble Supreme Court in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ued by Interim Resolution Professional / Resolution Professional appointed by the Committee of Creditors and not by the company. In view of the above we are of the considered view that the present appeals, in the present form, are not maintainable. Thus, respectfully following the aforesaid decision in Monnet Ispat Energy Ltd. ( 2017 (9) TMI 1907 - DELHI HIGH COURT] which approach has also been adopted by various coordinate bench of the Tribunal, we dismiss the present cross appeals with a liberty that upon completion of the moratorium period, if it is so decided, both the parties may seek recall of this order by impleading Managing Director / Director, representing the new management of the assessee company, or the Official Liquidato ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid Petition was admitted by the Hon‟ble NCLT, and Corporate Insolvency Resolution Process ( CIRP‟) of the Corporate Debtor was ordered to be commenced vide order dated 25/09/2019, passed by the Hon‟ble NCLT. The Hon‟ble NCLT appointed Interim Resolution Professional for the Corporate Debtor vide aforesaid order. The Hon‟ble NCLT declared moratorium period under section 14 of the Code w.e.f. 25/09/2019. 3. During the course of hearing, the learned Authorised Representative ( learned A.R.‟) appearing for the assessee submitted that in view of the CRIP and consequent moratorium being imposed on the continuation of pending Suit or proceedings, in respect of the assessee company, the present cross appeals ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd it is non est in law and could not have been allowed to continue. 5. The learned A.R. has placed reliance on the decision of the Hon‟ble Calcutta High Court in SREI Equipment Finance Limited (supra). We find that the issue before the Hon‟ble Court, in aforesaid decision, was as under: 5. On going through the impugned order we find that the issue as to whether the proceedings had to be kept in abeyance by the assessing officer in the light of the insolvency proceedings which were pending and the effect of Section 14 of the Code have not been dealt with though that was the core issue which was canvassed in the writ petition... 6. While deciding the aforesaid issue, Hon‟ble Calcutta High Court observed as und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rium period as per section 14 of the Code and there is no option to quash the same in totality. Since, if the assessment proceeding is dropped then same cannot be revived upon completion of the moratorium period and only remedy available with the Assessing Officer will be under the provisions of section 154/147/263 of the Act, provided the jurisdictional conditions as laid down in the said sections are satisfied. Insofar as filing/continuation of appeal under the provisions of the Act, during the continuation of moratorium period is concerned, we find that Hon‟ble Delhi High Court in PCIT v/s Monnet Ispat Energy Ltd., [2018] 304 CTR 234 (Del.), observed as under: 2. It appears to the Court that Section 238 of the Code is categ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsolvency statutes the Code does not envisage permission being sought from the NCLT for continuation of the continuation of pending proceedings against the Respondent in other fora. In the order dated 18July 2017 is clear that the moratorium continues till the completion of the corporate insolvency resolution process or until this Bench approves the resolution plan under sub-Section (1) of Section 31 or passes an order for liquidation of corporate debtor under Section 33, as the case may be. 5. Consequently, these appeals are disposed of with liberty to the Appellant Department to revive them subject to the further orders of the NCLT. 8. The aforesaid decision of the Hon‟ble Delhi High Court was affirmed by the Hon‟bl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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