TaxTMI 
TaxTMI 
2026 (1) TMI 399
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....rned Senior Advocate appearing for the appellant submits that, the appellant suffered a decree for eviction. Appellant made over possession of suit premises. Proceedings for adjudication of mesne profits were pending. 3. During the pendency of the suit for the adjudication of the mesne profit appellant underwent a corporate insolvency restructuring process before the National Company Law Tribunal (NCLT), Guwahati, under the provisions of the Insolvency & Bankruptcy Code, 2016. He submits that, a resolution plan (RP) was approved by the NCLT, Guwahati by an order dated September 20, 2018. 4. Learned Senior Advocate for the appellant refers to the various clauses of the Resolution Plan approved (RP) in respect of the appellant. He draws....
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....by the respondent/plaintiffs herein seeking extension of time for completion of the reference for mesne profits. The other application was IA GA No. 10 of 2023 filed by the appellant before the learned Single Judge praying for dismissal of the suit under Order 7 Rule 11 of the Code of Civil Procedure, 1908. 8. Respondents herein, as plaintiffs filed CS 16 of 2007 in January 2007 praying for a decree for possession and mesne profits. So far as the possession is concerned the suit was decreed under Chapter XIIIA of the Original Side Rules on July 22, 2011. A special Referee was appointed for the purpose of calculation of the mesne profit. 9. Appellant before us, made over possession of the immovable property concerned to the respondents....
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....e following provisions:- ii) No claim against the ACIL or new Management. In case any financial recovery to be made against the ACIL the same should be recovered from existing management as stated in Chapter XII." 12. Respondents as plaintiffs approached the NCLT, Guwahati for reliefs with regard to the claim for mesne profits subsequent to the R P being sanctioned. Such application was disposed of by NCLT, Guwahati on November 29, 2018 by holding that, respondents/plaintiffs, if so advised may proceed with the proceeding before the Special Referee. The provisions in the sanctioned R P were not altered. 13. Order dated September 29, 2018 passed by NCLT, Guwahati should not be read in isolation. It is to be read in the context....
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.... Consequently, in the facts and circumstances of the present case, "existing management" as used in the RP will mean the management of the appellant immediately prior to the present management taking over change. RP allowed the suit to continue, subject to the monetary liability being met by the erstwhile management of the appellant, if there was any monetary liability found in such proceedings. 18. In our view, therefore, the suit so far as quantification of mesne profit can continue as against the erstwhile management of the appellant. In the event there is any monetary liability found, the same is to be realized from the erstwhile management of the appellant. 19. It is trite law, that once a resolution plan is duly approved by the ....