TaxTMI 
TaxTMI 
2025 (8) TMI 1007
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....scellaneous Provisions Act (EPF and MP Act) in respect of the petitioner's establishment and determined dues for the period of June 2018 to May 2019. Aggrieved by the said order, the present writ petition has been filed. 2. The learned counsel for the petitioner would submit that the petitioner's company was taken over by the ASG Hospital Private Limited, Jodhpur, Rajasthan as successful resolution applicant in IA(IBC)/288(CHE)/2022 in CA/1/IB/2017 passed by the National Company Law Tribunal, Division Bench-I, Chennai under section 30(6) & 31 of the Insolvency of Bankruptcy Code, 2016 (in short "IBC 2016") read with Regulation 39 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. 2.1. In fact,....
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....s pending in other forums have to be transferred and to be continued only before NCLT. 2.4. As per section 31 of the Insolvency and Bankruptcy code, once the resolution plan is approved by NCLT, all further claims not made come to an end that is, no belated claim can be included therein that was not made earlier. 2.5. As per the application filed by the 2nd respondent before the NCLT the period from 6/2018 to 5/2019 was already covered. Even if any omission, they cannot claim later. However, the authorities have passed impugned order after approval of the resolution plan on 21.08.2023. Therefore, for the period covered under the sick period under the resolution plan, the 2nd respondent cannot claim any amount. Therefore, the order pas....
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....lf of the corporate debtor. Since there is default during Corporate Insolvency Resolution Process period, the successful resolution applicant has to pay the dues. Therefore, the learned counsel for the respondent prayed to dismiss the writ petition. 4. This court heard both sides and perused the records. 5. In this case, it is admitted fact that the petitioner establishment was under liquidation proceedings and the same was taken over by the ASG Hospital Private Limited, Jodhpur, Rajasthan as the Successful Resolution Applicant through order of National Company Law Tribunal Chennai. The second respondent also filed an application for the tune of Rs. 7,66,47,643/- and the Resolution Professional has admitted Rs. 4,50,68,362/- and for t....
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....ts employees, members, creditors, 3[including the Central Government, any State Government or any local authority to whom a debt in respect of the payment of dues arising under any law for the time being in force, such as authorities to whom statutory dues are owed,] guarantors and other stakeholders involved in the resolution plan." 9. Therefore the resolution plan is binding on the second respondent as per section 31(1) of IBC. Since already for the aforesaid period, the second respondent has filed petition before the NCLT, they cannot claim further amount. 10. At this juncture, the learned counsel appearing for the second respondent would summit that though the period is covered in the resolution plan, the impugned order is in resp....
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....Mishra and sons Private Limited through the authorized signatory Vs. Edelwe iss Asset Reconstruction Company Limited reported in (2021) 9 SCC 657. 3. Ruchi Soya Industries Limited Vs.Union of India reported in Manu/SC/0464/2022. On a careful perusal of the aforesaid judgments, it is clear that when the claim has not been filed earlier and the resolution plan is approved, continuation of the proceedings is meaningless under section 31(1) of IBC. The claims as provided in the resolution plan shall stand frozen and will be binding on the corporate debtor and its employees, members, creditors, including the Central Government, any State Government or any local authority, guarantors and other stakeholders. 13. On the date of appro....