TaxTMI 
TaxTMI 
2022 (4) TMI 15
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....cases, abundant caution is being maintained, while hearing the matters in Court, for the safety of all concerned. Learned counsel for the petitioner has pointed out that the petitioner-company is a wholly owned Subsidiary of UltraTech Cement Limited engaged in the manufacturing and marketing of cement and allied products. Learned counsel for the petitioner has further pointed out that the erstwhile Binani Cement Ltd. was unable to pay its debts to the Bank of Baroda, and therefore, the Bank of Baroda preferred an application under Section 7 of the Insolvency & Bankruptcy Code, 2016 (hereinafter referred to as the "Code of 2016") read with relevant regulations as a Financial Creditor before the National Company Law Tribunal, Kolkata Be....
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....ions of Code of 2016. Learned counsel for the petitioner further submits that the matter comes up on his application to decide the matter finally in light of the verdict given by the Hon'ble Apex Court in Ghanshyam Mishra and Sons Private Limited through the Authorized Signatory vs. Edelweiss Asset Reconstruction Company Limited through the Director & Ors. (Civil Appeal No.8129 of 2019). Learned counsel for the petitioner also pointed out that while rendering the aforesaid judgment, the Hon'ble Apex Court has also dealt with Civil Appeal arising out of Special Leave Petition (Civil) No.11232 of 2020, which is of the petitioner-company i.e. (UltraTech Nathdwara Cement Limited Vs. State of Uttar Pradesh & Ors.), the conclusion of the ju....
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....ent of the Hon'ble Apex Court, the same 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. Learned Additional Advocate General alongwith learned Additional Government Counsel appearing on behalf of the respondents have fairly admitted that the controversy broadly stands decided, but strongly have raised a distinguishing issue arising out of judgment rendered by the Hon'ble Apex Court in Federation of Indian Mineral Industries and others Vs. Union of India and another reported in (2017) 16 Supreme Court Cases 186, in which, the Hon'ble Apex Court has declared that the lease holders are given time t....
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....rnment. 52.5 Contributions to the DMF are required to be made by the holder of a mining lease or a prospecting licence-cum-mining lease in the case of coal, lignite and sand for stowing with effect from 20th October, 2015 when the rates were prescribed by the Central Government or with effect from the date on which the DMF was established by the State Government by a notification, whichever is later. 52.6 The notification dated 31 st August, 2016 issued by the Central Government is invalid and is struck down being ultra vires the rule making power of the Central Government under the MMDR Act. 53. We fervently hope the State Governments recognize their responsibilities and utilize the contributions to the District ....
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....016 was admitted by the NCLAT at the instance of the Bank, and thereafter, the IRP was confirmed by the resolution professional in their meeting dated 28.05.2018 which was further affirmed by the NCLAT vide its order dated 14.11.2018, then only option left to the State was to contest the same. This Court is also drawing its finding from the order passed by the Hon'ble Apex Court on 19.11.2018 in Civil Appeal No.10998 of 2018, whereby the order of NCLAT approving the resolution plan was challenged and upheld. Thus, once the Hon'ble Apex Court has categorically laid down the law that once a resolution plan is duly approved by the Adjudicating Authority under Sub-section (1) of Section 31, the claims as provided in the resolution plan sh....