TaxTMI 
TaxTMI 
2022 (10) TMI 62
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....n is filed by Municipal Corporation, Rohtak through its Commissioner against the Resolution Professional for rejection of Resolution Plan submitted vide IA No. 823/2020. The CP (IB) No. 515/Chd/Chd/2019 has been admitted by this Adjudicating Authority on 07.02.2020 filed under Section 7 of the Code on behalf of the Financial Creditor, Parivartan Investment and Finance Company seeking initiation of Corporate Insolvency Resolution Process ("CIRP"). 2. The brief facts of the present application stated by the applicant-operational creditor are herein below: 2.1 It is submitted that the moratorium under Section 14 was declared on 07.02.2020. The Resolution Professional made public announcement on 09.02.2020 under Regulation 6(1) of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 in "Financial Express" (English) Chandigarh Edition, "Hari Bhoomi" (Hindi), Chandigarh Edition as per the averment made by Resolution Professional in IA No. 837/2020. 2.2 It is further submitted that the corporate debtor Haryana Telecom Limited have not been paying its due property tax and fire tax for its property having property ID No. 193C6U1....
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....tor and information/records/data pertaining to corporate debtor, the respondent observed dues of certain Government Authorities. Accordingly, the respondent vide letter dated 14.02.2020 informed Joint Director, District Industries Center, Rohtak and assessing Authority, Sales Tax Department, Rohtak, Haryana about the initiation of CIRP of corporate debtor. Further, respondent also requested departments to file their claims in appropriate form. The copy of above letter dated 14.02.2020 sent by the respondent is annexed as Annexure R-3. 3.3 It is averred by the respondent-Resolution Professional that vide email and letter dated 22.11.2020, it apprised the applicant about initiation of CIRP against corporate debtor and requested the applicant to submit its claim as per the applicable provisions of the Code. Copy of email and letter dated 22.11.2020 is attached as Annexure R-5. The CoC in its 9th meetings dated 31.10.2020 approved the Resolution Plan submitted by Mr. Abhimanyu Singh Mehlawat ("SRA") with 100% voting share. 3.4 It is submitted that in any event, no such duty has been cast upon the respondent to intimate each and every creditor to file its claim. In fact for the said p....
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....of law, tribunal, arbitration panel or other authority; 7. Thus, we hold that the publication made by the respondent is in compliance with the relevant Regulation and that the enforcement for paying the demand during the moratorium period, is in violation of section 14(1)(a) of the IBC. 8. In view of the above discussion, the present application is dismissed without order as to cost and disposed of accordingly. IA No. 837/2020 The present application is filed by Resolution Professional to quash and set aside the order dated 18.11.2020 whereby, the property of the corporate debtor bearing property ID-193C6U1 situated near DAV School, Sector 27, Rohtak has been attached and sealed by the respondent. Whereas, the CP (IB) No. 515/Chd/Chd/2019 has been admitted by this Adjudicating Authority on 07.02.2020 filed under Section 7 of the Code on behalf of the Financial Creditor, Parivartan Investment and Finance Company seeking initiation of Corporate Insolvency Resolution Process ("CIRP"). 2. The brief facts of the present application stated by the applicant-Resolution Professional are herein below: 2.1 It is submitted that the moratorium under Section 14 was declared on 07.02.2020....
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....al Creditors' and the appellant bank to recover any amount from the account of the 'Corporate Debtor, nor it can appropriate any amount towards its own dues. 6. If the 'Corporate Debtor' has borrowed some amount from the Appellant-Indian Overseas Bank' and the Appellant- Indian Overseas Bank' come within the definition of 'Financial Creditor as defined in Section 5(7) of the 'T&B Code', it is always open to the Appellant- "Indian Overseas Bank' to file its claim before the 'Interim Resolution Professional' for getting the amount back. If the Appellant claims to be 'Financial Creditor' and file's such claim before the 'Interim Resolution Professional' showing the principal amount and interest thereon, the 'Interim Resolution Professional will consider the same and the Appellant being 'Financial Creditor' may be taken in the Committee of Creditors' 7. We find no merit in this appeal, therefore, we are not inclined to interfere with the impugned order dated 13th October, 2017. However, liberty is given to the Appellant-Indian Overseas Bank' to raise its claim before the interim Resolution Pro....