TaxTMI 
TaxTMI 
2019 (6) TMI 460
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.... Professional' and being aggrieved the Appellant moved before the Adjudicating Authority and thereafter before this Appellate Tribunal. The Appellate Tribunal by order dated 1st February, 2019 passed in "Company Appeal (AT) (Insolvency) No. 291 of 2018" while directed the Adjudicating Authority to pass appropriate order under Section 31 of the I&B Code with regard to 'resolution plan' as approved by the 'Committee of Creditors'. The Appellant was allowed to file claim under sub-section (6) of Section 60 of the 'I&B Code' before the Court of Law of appropriate jurisdiction or an application against the 'Corporate Debtor' namely "M/s. Star Agro Marine Exports Pvt. Ltd.' with the following observations : "7. Similar issue fell for considera....
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....bsp; xxx (5) Notwithstanding anything to the contrary contained in any other law for the time being in force, the National Company Law Tribunal shall have jurisdiction to entertain or dispose of- (a) any application or proceeding by or against the corporate debtor or corporate person; (b) any claim made by or against the corporate debtor or corporate person, including claims by or against any of its subsidiaries situated in India; and (c) any question of priorities or any question of law or facts, arising out of or in relation to the insolvency resolution or liquidation proceedings of the corporate debtor or corporate person under this Code. (6) Notwithstanding anything contained in the Limitation Act, 1963 or in ....
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....rporate insolvency resolution process' initiated against 'M/s. Star Agro Marine Exports Pvt. Ltd.' (subject matter of Company Appeal (AT) (Insolvency) No. 291/18) . A 'resolution plan' has already been approved and placed before the Adjudicating Authority (Chennai) on 4th October, 2018. However, till date no order under Section 31 has been passed. We find that 270 days have passed. 10. Insofar as 'corporate insolvency resolution process' initiated against 'Assam Company India Ltd.' is concerned it is informed that a separate 'resolution plan' has already been approved by the 'Committee of Creditors' and same has been approved by the Adjudicating Authority under Section 31 of the I&B Code on 20th September, 2018. 11. In the facts and c....
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....y the 'Resolution Professional'." 2. The Adjudicating Authority (National Company Law Tribunal), Single Bench, Chennai thereafter passed an order u/s 31 of the I&B Code approving the 'Resolution Plan' by the impugned order dated 11th March, 2019. However, while passing such order, the Adjudicating Authority held and observed : "13. From the plan approval date, all inquiries, investigation and proceedings, whether civil or criminal, suits, claims, disputes, proceedings in connection with the Corporate Debtor or affairs of the Corporate Debtor, pending or threatened, present or future in relation to any period prior to the plan approval date, or arising on account of implementation of this resolution plan shall stand withdrawn and dismis....