TaxTMI 
TaxTMI 
2022 (4) TMI 777
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.... Section 7 of the Insolvency and Bankruptcy Code, 2016 (CODE) was filed by the Financial Creditor (FC), SREI Infrastructure Finance Ltd., the same being CP(IB) No. 20/GB/2017, against the Applicant/CD herein - Assam Company India Ltd. before this Tribunal and this Tribunal by an order dated 26.10.2017 admitted the said application and initiated CIRP against the Applicant and declared moratorium under Section 14 of the Code. By the said order, this Tribunal also appointed an Interim Resolution Professional (IRP) for collating the claims of the Applicant. 3. During the CIRP, the respondents did not file its claim with the IRP. Thereafter, the IRP was replaced by the Resolution Professional (RP) who floated Expression of Interest for inviting potential Resolution Applicants for submitting their Resolution Plans and pursuant to such Expression of Interest, the Resolution Plan as submitted by BRS Ventures Investment Ltd. [BRS Ventures), a Company incorporated in United Arab Emirates (UAE) and having its Registered Office at Unit S503A, Level 5, Emirates Financial Towers, Dubai International Finance Centre, P.O. Box No. 507117, Dubai, UAE was duly accepted by the Committee of Creditor....
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....ea Estate claiming Rs. 1,50,500.00 (Rupees One lac Fifty thousand Five hundred only) for the Financial Year 2016-17 to 2021-2022. ii) Demand Notice No. RO/DBR/T-296/92-93/16 dated 08.02.2021 issued to the Thannai Tea Estate claiming Rs. 2,00,500.00 (Rupees Two lac Fifty thousand Five hundred only) for the Financial Year 2016-17 to 2021-2022. iii) Demand Notice No. RP/DBR/T-69/90-91/356/3036 dated 08.02.2021 issued to the Barbaruah Tea Estate claiming Rs. 2,00,400.00 (Rupees Two lac Four hundred only) for the Financial Year 2016-17 to 2021-2022. iv) Demand Notice No. RP/DBR/T-645/94-95/311/3040 dated 10.02.2021 issued to the Rungagora Tea Estate claiming Rs. 4,00,400.00 (Rupees Four lac Four hundred only) for the Financial Year 2016-17 to 2021-2022. v) Demand Notice No. RP/DBR/T-26/90-91/286/3041 dated 10.02.2021 issued to the Dinjan Tea Estate claiming Rs. 1,50,400.00 (Rupees One lac Fifty thousand Four hundred only) for the Financial Year 2017-18 to 2021-2022. vi) Demand Notice No. RP/DBR/T-90/90-91/356/332/3042 dated 10.02.2021 issued to the Digulturung Tea Estate claiming Rs. 6,00,300.00 (Rupees Six lac Three hundred only) for the Fin....
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....that the Hon'ble Tribunal had categorically upheld the terms of the Resolution Plan and has relied upon Clause 12.1.12 of the Resolution Plan which states that in accordance with the forgoing, all claims (whether final or contingent, whether disputed or undisputed and whether or not notified to or claimed against ACIL) of all Government Authorities (including in relation to Taxes, and all other dues and statutory payments to any Government Authority) relating to period prior to the Effective Date, shall stand fully and finally discharged and settled. To the contrary, the Respondents in the instant case have deliberately omitted consideration/adherence to the said clause and the express order passed by this Hon'ble Tribunal in IA No. 32 of 2020, while concluding the assessment order and have erringly held that the instant claim is made after the effective date which is manifestly against the true nature, spirit and scope of the order. Therefore, the Respondents had no reason to raise demand for Rs. 33,24,164.00 (Rupees Thirty Three lac Twenty Four thousand One hundred Sixty Four only) as Consent Fees for the financial year ending 31st March, 2018, assessment year 2018-19 whi....
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....ocably and unconditionally stand released and discharged, and the Operational Creditors and other creditors shall waive all rights to invoke or enforce the same. 12.1.2 In accordance with the forgoing all claims (whether final or contingent, whether disputed or undisputed and whether or not notified to or claimed against ACIL) of all Government Authorities (including in relation to Taxes, and all other dues and statutory payments to any Government Authority) relating to the period prior to the Effective Date, shall stand fully and finally discharged and settled." 17. It is also observed that in the approved Resolution Plan, it was clearly stated that barring aside the claims admitted and forming part of the Resolution Plan any other claim and/or demand prior to the effective date shall stand extinguished. Under these circumstances, the applicant has filed the present application with the prayers as aforesaid. 18. While the matter came up on 26.11.2021, both the parties were directed to sit together and decide the dues and settle the matter in accordance with the provisions of IBC. The Applicant was also directed to pay the amount of dues so arrived at without further....
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....The Petitioner is directed to pay the amount of dues so arrived at without further loss of time. The Respondents are to find out the left over amount of dues, if any, and intimate the same to the Petitioner. Thereafter, the Applicant vide Supplementary Affidavit filed on 20.12.2021 has submitted that the Applicant had paid (i) an amount of Rs. 4,14,052.75.00 (Rupees Four lac Fourteen thousand Fifty Two and paise Seventy Five only) through Demand Draft No. 768181 dated 26.10.2021 by the Doomur Dullung Gargen Tea Estate (ii) Rs. 3,05,653.00 (Rupees Three lac Five thousand Six hundred Fifty Three only) through Demand Draft No. 768182 dated 26.10.2021 by Khoomtaie Tea Estate and (iii) Rs. 1,52,803.00 (Rupees One lac Fifty Two thousand Eight hundred Three only) through Demand Draft No. 768183 dated 27.10.2021 by Mohokutie Tea Estate. 23. Since the Respondents have not filed any claims for the period from 1986-87 except 2012-14 and 2014-15 before the Resolution Professional/before the approval of the Resolution Plan, the left over claims of the Respondents from 1986-87 till the approval of the Resolution Plan, if it has been filed now or to be filed in the future, is not to be ente....