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TMI Blog2024 (10) TMI 615X X X X Extracts X X X X X X X X Extracts X X X X ..... s referred in the said Notice. 2. Considering the issue involved and with the consent of the learned advocates appearing for the respective parties, the present petition is taken up for final hearing at admission stage. 3. Heard learned Senior Advocate Mr. Tushar Hemani for the petitioner and learned AGP Mr. Raj Tanna for the respondents. 4. Facts in brief, as referred in the petition, are as under: 4.1 The petitioner herein is a company incorporated under the provisions of the Companies Act,1956 and engaged in the business of laying pipelines for supply of LPG, Oil and Gas, etc., in providing engineering, procurement and construction services, etc. 4.2 Company Petition (IB) No.172 of 2018 was filed before the National Company Law Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Insolvency and Bankruptcy Code, 2016, the claims if any under the Gujarat Value Added Tax Act, 2003 which are not considered in the Resolution Plan stand extinguished. No claim can be made against the petitioner by any entity or person including State Tax Authorities beyond what is provided in the approved resolution plan. 5.1. Learned Senior advocate for the petitioner placed reliance on the decision of the Hon'ble Supreme Court in the case of Ghanashyam Mishra and Sons Private Limited vs. Edelweiss Asset Reconstruction Company Limited reported in (2021)9 SCC 657 to submit that in view of the settled proposition of law, demand notice dated 16.07.2020 issued by respondent No.2 deserves to be quashed and set aside. 6. Opposing the pre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt before sanctioning the resolution plan. Therefore, since statutory dues of the petitioner are pending, the petition deserves to be rejected. 7. Considered the submissions and the decision relied upon. On perusal of the evidence on record, it is noticed that in the Company Petition (IB) No. 172 of 2018 was filed before NCLT under section 9 of the IBC Code and an order dated 19.03.2020 was passed in I.A. No. 593 of 2019 in CP (IB) No. 172 of 2018, approving the resolution plan, as stated in the order. 7.1. From the record, it is also noticed that in the proceedings filed before NCLT, during CIRP process, the Assistant Commissioner of State Tax, as one of the operational creditors, lodged a claim of Rs.38,86,63,983/- for its dues under th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and declaratory in nature and therefore will be effective from the date on which the I&B Code has come into effect. 102.3. Consequently all the dues including the statutory dues owed to the Central Government, any State Government or any local authority, if not part of the resolution plan, shall stand extinguished and no proceedings in respect of such dues for the period prior to the date on which the adjudicating authority grants its approval under Section 31 could be continued." 9. In view of the above and in view of settled principle of law that once the resolution plan is approved, the claim, if any, stands extinguished and no claim can be made by any entity including the State Tax Authority, we deem it appropriate to quash and set ..... X X X X Extracts X X X X X X X X Extracts X X X X
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