TMI Blog2023 (2) TMI 231X X X X Extracts X X X X X X X X Extracts X X X X ..... 29-10232 /2023 - Dated:- 7-2-2023 - MR. RAMESH NAIR, MEMBER (JUDICIAL) AND MR. RAJU, MEMBER (TECHNICAL) Shri Vishal Agarwal Mrs. Dimple Gohil, Advocate for the Assessee Shri Ajay Jain Shri Deepak Kumar (Special Counsels) for the Respondent Shri Prabhat Rameshwaram, Additional Commissioner (AR) for the Respondent ORDER Shri Vishal Agarwal, learned counsel appearing on behalf of the assessee M/s. Arcelormittal Nippon Steel India Ltd. submits that by the miscellaneous applications, the assessee is seeking disposal of the appeals in the light of NCLT order whereby, the resolution plan has been approved in favour of M/s. Arcelormittal Nippon Steel India Ltd. He submits that as per the NCLT order, all the government dues shall stand extinguished and no government dues including the dues involved in the present appeals is recoverable. 02. Shri Prabhat Rameshwaram, learned Additional Commissioner (AR) appearing on behalf of the revenue reiterates the finding of the impugned order. 03. We have carefully considered the submissions made by both the sides and perused the records. As regard the pending appeals wherein, the IBC proceedings have been concluded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.4 below; and (fil the dues owed by the Company to certain Operational Creditors (to each of whom the Company, as on the Insolvency Commencement Date, owes up to Rs. 3,00,000/- (Rupees Three Lakhs) and whose details are set out in Annexure 9)), which aggregates to Rs. 4,83,47,321/- (Rupees Four Crores Eight Three Lakhs Forty Seven Thousand Three Hundred Twenty One) shall remain NIL, and shall not increase . Pursuant to the foregoing, the Company shall have no Liability towards any Operational Creditors with regard to any claims (as defined under the IBC) relating in any manner to the period prior to the Closing Date. All such Liabilities shall immediately, irrevocably and unconditionally stand fully and finally discharged and settled, with there being no further claims whatsoever, and all forms of security created or suffered to exist, or rights to create such a security, to secure any obligations towards the Operational Creditors (whether by way of guarantee, bank guarantee, letters of credit or otherwise) shall immediately, irrevocably and unconditionally stand released and discharged, and the Operational Creditors shall deem to have waived all rights to invoke or enforc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... solution Professional on or prior to August 01, 2017. The Information Memorandum. and information uploaded to the virtual data-room from time to time, contains details of claims made by all creditors of the Company, including Financial Creditors and Operational Creditors, which have been admitted by the Resolution Professional. Further, under the CIRP Regulations, all creditors are required to submit their proof of claim prior to the approval of the Plan by the CoC. We assume that all persons that have any claim (s) against the Company (including Financial Creditors, Operational Creditors, Other Creditors, Governmental Authorities, persons who have paid any advances to the Company against supply of goods or services by the Company, and persons in respect of whom credit balances were written-back by the Company in the years ended March 31, 2016, March 31, 2017 and March 31, 2018 have all filed their claims and all verifiable claims as on the date of approval of this Plan by the CoC, have been admitted by the Resolution Professional and are disclosed in the Information Memorandum, provided that nothing contained herein shall result in an increase in the Total Financial Outlay propose ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble Supreme Court judgment in the case of Ghanashyam Mishra Sons Pvt. Ltd.-2021 SCC Online SC 313, it prima facie appears that the adjudged dues cannot be recovered by the department however, this issue has to be decided by the department and not by this tribunal. For this reason, that firstly, there is no provision made in the Customs and Central Excise Act to give effect of NCLT proceedings. This tribunal being creature under the Customs Act, even though the Insolvency and Bankruptcy Code have over riding effect over all the other acts, in absence of any explicit provision under the Customs/Central Excise Act, this tribunal cannot decide finally whether the adjudged amount can be recovered by the department or otherwise. This issue has to be resolved by the appellant. Moreover, the learned AR submitted a letter dated 19.05.2022 issued by Additional Commissioner (Legal) wherein, the Additional Commissioner stated as under:- As the NCLT, Ahmedabad has decided the matter vide Order 08.03.2019 and therefore, all the government dues prior to 08.03.2019 stand extinguished and no demand or recovery proceedings can be initiated against them. 05. In this position, we ..... X X X X Extracts X X X X X X X X Extracts X X X X
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