2025 (3) TMI 1639

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.... as well as Counsel for the Respondent. 2. This appeal is filed by the CTD challenging the order dated 18.10.2023 passed by National Company Law Tribunal, Mumbai Bench, Court-II by which an application filed by the Resolution Professional for approval of the plan under Section 30 (6) has been allowed. 3. Ld. Counsel for the Appellant challenging the order submits that appellant had their statutory dues and the appellant under Section 33 of the MPVAT Act had charge on the assets and appellant ought to have been treated as secured creditor hence the approval of the plan where appellant has been treated only as an operational creditor need to be interfered with. 4. Ld. Counsel for the Respondent refuting the submission of the appellan....

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....ing to the contrary, contained in any law for the time being in force and subject to the provisions of Section 530 of the Companies Act, 1956 (No. I of 1956), any amount of tax and/or penalty or interest, if any, payable by a dealer or other person under this Act shall be first charge on the property of the dealer or such person". 9. Considering the pari material provisions this Tribunal has upheld the approval of the resolution plan treating the CTD as an operational creditor. It is useful to extract paragraph 21 and 22 of the Judgment of the Tribunal which are as follows: 21. In the case of Commissioner of Income Tax Vs. KTC Tyres (India) Ltd. (Supra), the argument raised was that the capital gain tax which was payable by the ....