Taguda Pte. Limited vs. Subodh Kumar Agrawal RP
IA/887/2022 & IA/1606/2022 In IA/1447/2021 In CP(IB)No. 1790/MB/2017
Facts:
1.Tribunal vide order dated 03.03.2022 has approved the resolution plan of applicant and directed that all the past liabilities arising out of any levies/tax dues to any government authorities, etc. which are not part of the Resolution Plan and pertaining to pre-Corporate Insolvency Process period shall stand extinguished from the date of approval of the Resolution Plan. Further, this Tribunal ordered that any waiver sought in the Resolution Plan shall be subject to approval of the concerned Authorities.
2.Applicant filed application seeking modification of the order dated 03.02.2022 in IA/1447/2021, limited up to waivers as sought under the Resolution Plan. Applicant filed another application with respect to missed-out reliefs and sought waiver under the Resolution Plan.
Question: Whether application can be allowed?
Decision: Application was partially allowed and relief as sought by the applicant was granted.
Rationale:
1.Tribunal noted that all the past liabilities arising out of any levies/tax dues to any government authorities, etc. which are not part of the Resolution Plan and pertaining to Corporate Insolvency Process period shall stand extinguished from the date of approval of the Resolution Plan. The authorities have to file the claim before the RP before the approval of Resolution Plan by the CoC.
2.Further, waiving of fees and stamp duty for filing Form SH-7 with the Ministry of Corporate Affairs amounting to Rs. 2,65,44,000/- (Rupees Two Crores Sixty-Five Lakhs Forty-Four Thousand only) on implementation of the Resolution Plan is concerned, the applicant may approach the RoC concerned who would consider such request under the Companies Act, keeping in view the spirit of IBC legislation.
order copy:
