AI OCR 
TaxTMI 
TaxTMI 
TaxTMI 
2021 (12) TMI 190
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....or the Respondent No. 2 : Mr. Rahul Sarda a/w Ms. Komal Bhoir Advocates ORDER Per: Ashok Kumar Borah, Member (Judicial) 1. The present application is moved by Mr. Vishal Pawankumar Bidawatjika Liquidator of Anil Printers Limited (hereinafter called as "the Applicant") against the The Deputy Commissioner of State Tax and Anr. (hereinafter called as the "Respondent") Under Section 60(5) of Insolvency and Bankruptcy Code, 2016. The Applicant has prayed for grant of following reliefs. (a) That this Hon'ble Tribunal be pleased to pass orders directing the Respondent Nos. 1 and 2 to remove / release the lien on the said property of the Corporate Debtor; (b) That this Hon'ble Tribunal be pleased to pass order directing the Respondent No. 1....
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....eking an order of Liquidation of the Corporate Debtor. This Tribunal vide its order 15th October 2019 was pleased to pass orders liquidating the Corporate Debtor and thereby appointing the Applicant herein as the Liquidator as provided under section 34(1) on 12th March 2020, the Applicant / Liquidator published E-auction Sale Notice in two newspapers viz. Free Press Journal (English Edition) and Navshakti (Marathi Edition) for assets of the Corporate Debtor. 4. On 24th March 2020, Mr. Haresh Devraj Shah and Mrs. Ila Haresh Shah submitted their bid as well as deposited the Earnest Money Deposit of Rs. 81,00,000/- (Rupees Eighty-One Lakh only) for one of the properties of the Corporate Debtor with the Applicant /Liquidator. 5. During the e-....
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....ii. Plant and Machinery and all articles lying inside the above land and building premises. (Reserve Price: Rs. 8.30 Crores, Earnest Money Deposit: 83 Lakhs). Findings: 8. We have duly considered the submission of the Applicant and gone through the pleadings. We have placed reliance upon the judgment of the Hon'ble Supreme Court in the case of "Committee of Creditors of Essar Steel India Limited vs. Satish Kumar Gupta and Ors. (2019 SCC OnLine1478)" held that: 88. .......... A successful resolution Applicant cannot suddenly be faced with "undecided" claims after the resolution plan submitted by him has been accepted as this would amount to a hydra head popping up which would throw into uncertainty amounts payable by a prospective resolu....
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....ional Creditor, and Secured Creditor, an Unsecured Creditor and a Decree holder. 89. Sub Sections (20) and (21) of Section 5 of the IB Code define "Operational Creditor" and "operational debt" respectively as such: (20) "Operational Creditor" means a person to whom an Operational Debt is owed and includes any person to whom such debt has been legally assigned or transferred: (21) "Operational Debt" means a claim in respect of the provision of goods or services including employment or a debt in respect of the payment of dues arising under any law for the time being inforce and payable to the Central Government, any State Government or any local authority: 90. "Creditor" therefore, has been defined to mean any person to whom a debt is....
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....ent, any State Government and any local authority to whom a debt is owed, including the statutory dues, would be covered by the term 'creditor' and in any case, by the term 'other stakeholders' as provided in sub-section (1) of Section 31 of the IB Code. 92. The Division Bench of the Rajasthan High Court in D.B Civil Writ Peitition No. 9480 of 2019 in the case of Ultra Tech Nathdwara Cement Ltd. vs. Union of India and others., by judgment and order dated 07.04.2020 has taken a view, that the demand notices, issued by the Central Goods and Services Tax Department, for a period prior to the date on which NCLT has granted its approval to the Resolution Plan, are not permissible in law. While doing so, the Rajasthan High Court has relied on t....
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.... claims, which are not a part of Resolution Plan, shall stand extinguished and no person will be entitled to initiate or continue any proceedings in respect to claim, which is not part of the Resolution Plan. ii. 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 of the period prior to the date on which the Adjudicating Authority grants its approval under Section 31 could be continued. 10. We duly considered that merits of the present IA on the basis of facts and circumstances of the case in hand and in light of the latest decision of the Hon'ble Supreme C....