9911796707
TMI Blog2022 (9) TMI 1071X X X X Extracts X X X X X X X X Extracts X X X X ..... f 2016 WP(C) No.16076 of 2016 WP(C) No.16077 of 2016 WP(C) No.16078 of 2016 WP(C) No.16079 of 2016 WP(C) No.16318 of 2016 WP(C) No.16319 of 2016 WP(C) No.16321 of 2016 WP(C) No.16323 of 2016 WP(C) No.16775 of 2016 WP(C) No.16776 of 2016 WP(C) No.16778 of 2016 WP(C) No.16779 of 2016 WP(C) No.16780 of 2016 WP(C) No.16781 of 2016 WP(C) No.16782 of 2016 Petitioner (In all cases) Mr. S.S. Das, Sr. Adv Opposite Party (In all cases) Mr.Pravakar Behera Standing Counsel (Transport) ORDER 1. Since the aforesaid writ petitions have been filed at the instance of the same Petitioner challenging the tax and penalty imposed by the same Opposite Party and similar question of law and facts being involved in all the cases, they were heard together and disposed of by this common order. 2. The Petitioner has filed these writ petitions with a prayer to quash the Vehicle Checking Report and also seizure of the vehicles and direct the Opposite Party-Tax Recovery Officer-cum- Addl. Regional Transport Officer of Barbil to release the vehicles mentioned in the respective writ petitions in favour of the Petitioner which were seized for non-payment of the tax and penalty irrespective of the vehicles unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inance Limited ('SREI' in short hereinafter) under Section 7 of the Insolvency and Bankruptcy Code, 2016 filed an application against the Petitioner before the NCLT, Kolkata Bench, which was registered as CP(IB) No.16/KB.2017. The NCLT vide order dated 30.01.2017 appointed an Interim Resolution Professional and declared moratorium under Section 13 of the Insolvency and Bankruptcy Code, 2016. The Interim Resolution Professional on 30.01.2017 made public announcement with regard to the claims under Section 15 of the Insolvency and Bankruptcy Code, 2016. Opposite Party did not submit any claim under Regulation 7 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and Section 15 of the Insolvency and Bankruptcy Code, 2016. In the meanwhile the Resolution Plan of the Promoter of the Petitioner Company was approved by the Committee of Creditors and the same has also been approved by the NCLT, Kolkata Bench vide order dated 07.11.2017. A copy of which has been annexed as Annexure-6. Once a resolution plan is approved by the Committee of Creditors, it is binding on all the creditors, guarantors, employees and stake holder ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se of Rajesh D. Darbar and others vrs. Narasingrao Krishnaji Kulkarni and others reported in (2003) 7 SCC 219 wherein it has been held that where the nature of the relief, as originally sought, has become obsolete or unserviceable or a new form of relief will be more efficacious on account of developments subsequent to the suit or even during the appellate stage, it is but fair that the relief is moulded, varied or reshaped in the light of updated facts provided the party claiming the relief or change of relief must have the same right from which either the first or the modified remedy may flow. Further where the relief is discretionary, courts may exercise this jurisdiction to avoid injustice. Likewise, where the right to the remedy depends, under the statute itself, on the presence or absence of certain basic facts at the time the relief is to be ultimately granted, the Court, even in appeal, can take note of such supervening facts with fundamental impact. Also where a cause of action is deficient but later events have made up the deficiency, the Court may, in order to avoid multiplicity of the litigation, permit amendment and continue the proceeding, provided no prejudice is ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e same at an average level of around 30% in a gradual manner although the liquidation value payable to operational creditor is Nil. As per the Resolution Plan, the liquidation value payable in respect of the statutory liabilities is Nil. However, SML proposes to settle the entire statutory liabilities gradually matching with the cash flow over a period covering from financial year 2018 to financial year 2025. As per the payment plan under the Resolution Plan, it is seen that except for Clause-A secured creditors, other financial creditors as well as operational creditors are not getting any amount at all. As against that as per the debt resolution plan, different classes of creditors would get a significantly higher amount as under. In the table it has been mentioned in Item-C in Serial No.1 and 2 that the operational creditors would get statutory liability of Rs.3071.00 lakhs and other operational creditors of Rs.15552.74 lakhs. The management and control of SML will continue in the hands of the existing management who have the required Techno Commercial as well as the financial liabilities to manage the affairs of the company during implementation period. SML is opened to accept ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 016. The same would amount to violation of the principle of natural justice. Therefore, notwithstanding the law down by the apex Court in the case of Ghanashyam Mishra (supra) and M/s. Ruchi Soya Industries Ltd (supra) and Rajesh D. Darbar (supra), this Court is unable to accept the submission of the learned counsel for the Petitioner. But the Petitioner having a prima facie case, this Court disposes of all the writ petitions giving liberty to the Petitioner to approach this Court within two months hence, if so advised, by fling the appropriate petitions incorporating the aforesaid plea and prayer and till then, no coercive steps shall be taken against the Petitioner and/or the vehicles for realization of the penalty dues by the Opposite Party. If the Petitioner approaches this Court within the time stipulated, the deposit made with regard to the tax pursuant to the interim order of this Court and the penalty stated to be payable shall be subject to the order passed in the said writ petitions. However, if the Petitioner does not approach this Court within the time stipulated, there is no impediment on the part of the Opposite Party to realize the statutory dues, if any, pending ag ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
