2021 (1) TMI 715

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....Lal Bhat Acting Chairperson, Justice Anant Bijay Singh Member (Judicial) And Shreesha Merla Member (Technical) For the Appellant : Ms. Nitya Sharma and Mr. Money Jain, Advocates. ORDER Deputy Commissioner of Customs DEEC (Monitoring Cell) O/o the Commissioner of Customs (Export) New Custom House, Mumbai (Appellant) is aggrieved of rejection of its application for condonation of delay of 1....

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.... That being the admitted position, Section 31 (1) of the I&B Code would come into play which provides that the Resolution Plan approved by the Committee of Creditors shall be binding on all stakeholders. After approval of the Resolution Plan by the Adjudicating Authority, the Successful Resolution Applicant could not be allowed to be faced with claims filed or admitted after the Resolution Plan wa....

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....ded on merits by the resolution professional and by the Adjudicating Authority/Appellate Tribunal can now be decided by an appropriate forum in terms of Section 60(6) of the Code, also militates against the rationale of Section 31 of the Code. A successful resolution Applicant cannot suddenly be faced with "undecided" claims after the resolution plan submitted by him has been accepted as this woul....