TMI Blog2022 (10) TMI 885X X X X Extracts X X X X X X X X Extracts X X X X ..... cannot be sustained in the eye of law, therefore, the impugned order dated 01.10.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Principal Bench, New Delhi.) is hereby set aside. Appeal allowed. - Company Appeal (AT) (Insolvency) No. 336 of 2021 - - - Dated:- 20-10-2022 - [ Justice Anant Bijay Singh ] Member ( Judicial ) And [ Ms. Shreesha Merla ] Member ( Technical ) For the Appellant: Mr. Abhinav Mukherji , Additional Advocate General , State of H. P. For the Respondent : Mr. Abhishek Anand , Mr. Mohak Sharma , Advocates JUDGMENT Justice Anant Bijay Singh ; The present Appeal has been filed by the Appellant being aggrieved and dissatisfied by the order dated 01.10.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Principal Bench, New Delhi.) in IA No. 1428 (PB)/2020 in CP No. (IB)-473(PB)/2018 whereby and whereunder the application filed by the Liquidator under Section 35 (1) (f) 36 of Insolvency and Bankruptcy Code, 2016 (for short IBC) against the office of the Deputy Commissioner of Sales Taxes and Excise (Himachal Pradesh) seeking a relief for setting aside the order dated 25.04.2019 passed by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 19 under HPVAT Act, 2005, CST Act, 1956 and HP TEGLA Act, 2010. The tax demand notice to the tune of Rs. 12,27,77,844/- was issued by the Appellant to the Corporate Debtor on the same day through registered post. Subsequently, tax demand was declared as arrear of Land revenue on 01.05.2019 and red entry (lien) in the properties of Case Cold Roll Forming Limited, Trilikpur Road, Kala Amb was done on 14.05.2019 in the land bearing Khata Khatoni No. 76 min/80 min, Khasra No. 424/208 (9 Bighas and 12 Biswa) and Khatauni No. 93/98, Khasra No. 204/110, Hadbust No. 137, measuring 53 bighas and 6 Biswa, Totaling 62 Bigha 18 Biswa 9 as per Jamabandi 2000-01. vi) Further case is that the Appellant vide letter dated 02.05.2019 written to the Respondent informed that the Corporate Debtor has an outstanding liability of Rs. 12,27,77,844/- and enclosed therewith a Demand Notice dated 02.05.2019 (Annexure A-4 of the Appeal). The appellant also submitted its claim with a request to the Respondent to consider the said claim of the Appellant without prejudice to its statutory rights. vii) Further case is that the Respondent in absence of resolution plan, the Committee of Creditors decided to r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... given comparison of the aforesaid Judgments and facts of the present case which is tabulated hereunder: Central Bank Judgment- Hon ble Supreme Court Facts in present case The Securitisation Act 95.2. 35. The provisions of this Act to override other laws.-The provisions of this Act shall have effect, notwithstanding anything inconsistent therewith contained in any other law for the time being in force or any instrument having effect by virtue of any such law. IBC, 2016; Section 238 238. Provisions of this Code to override other laws- The provisions of this Act shall have effect, notwithstanding anything inconsistent therewith contained in any other law for the time being in force or any instrument having effect by virtue of any such law. The Kerala General Sales Tax Act, 1963.95.4. 26-B. tax payable to be first charge on the property. Notwithstanding anything to the contrary contained in any other law for the time being in force, any amount of tax, penalty, interest and any other amount, if any, payable by a dealer or any another person under this Act, shall be the first cha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thereof, overrides Section 48 of the GVAT Act which is set out herein below for convenience:- 48. Tax to be first charge on property.- Notwithstanding anything to the contrary contained in any law for the time being in force, any amount payable by a dealer or any other person on account of tax, interest or penalty for which he is liable to pay to the Government shall be a first charge on the property of such dealer, or as the case maybe, such person. 53. In other words, if a company is unable to pay its debts, which should include its statutory dues to the Government and/or other authorities and there is no plan which contemplates dissipation of those debts in a phased manner, uniform proportional reduction, the company would necessarily have to be liquidated and its assets sold and distributed in the manner stipulated in Section 53 of the IBC. 54. In our considered view, the Committee of Creditors, which might include financial institutions and other financial creditors, cannot secure their own dues at the cost of statutory dues owed to any Government or Governmental Authority or for that matter, any other dues. 55. In our considered view, the NCLAT clearly e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance of the situation arising out of the challenge faced by the country on account of Covid-19 Virus and resultant difficulties that may be faced by litigants across the county in filing their petitions/applications/suits/appeals/all other proceedings within the period of limitation prescribed under the general law of limitation or under Special Laws (both Central and/or State). To obviate such difficulties and to ensure that lawyers/litigants do not have to come physically to file such proceedings in respective Courts/Tribunals across the country including this Court, it is hereby ordered that a period of limitation in all such proceedings, irrespective of the limitation prescribed under the general law or Special Laws whether condonable or not shall stand extended w.e.f. 15th March 2020 till further order/s to be passed by this Court in present proceedings. We are exercising this power under Article 142 read with Article 141 of the Constitution of India and declare that this order is a binding order within the meaning of Article 141 on all Courts/Tribunals and authorities. This order may be brought to the notice of all High Courts for being communicated to all subo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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