2023 (10) TMI 725

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....SHI, MEMBER (TECHNICAL) Shri P. Sai Makrand, Advocate for the Appellant Shri A Rangadham & Shri M A Surya, Authorised Representatives for the Respondent. ORDER [Order per: BENCH] It is submitted by Learned Counsel that the appellant company faced financial difficulties and an application was filed by one of the financial creditors under section 7 the Insolvency and Bankruptcy Code, ....

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.... 7.4 of Chapter IV of the Resolution Plan all proceedings against the company in relation to any period prior to 17.10.2019 whether forming part of admitted claims or not shall stand extinguished by virtue of Order dated 17.10.2019. Clause 1(f) in Chapter X of the Resolution Plan states that all claims prior to the NCLT approval date of governmental authorities in relation to all taxes which the a....

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....ed a copy of the order of NCLT, Hyderabad in CP (IB) No. 462/7/HDB/2018 dated 4.10.2018. It is seen that the NCLT has approved the Resolution Plan. Para 34 reads as under: "In view of the foregoing discussion, the 'Resolution Plan' filed with the application meets the requirement of section 30(2) of the I&B Code, 2016 and Regulations 37, 38, 38(1A) and 39(4) of IBBI (CIRP) Regulations, 20....