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2024 (5) TMI 2 - SCH - VAT and Sales TaxPermission for withdrawal of petition - new management of the petitioner will not be held responsible for any outstanding statutory dues and other claims for the period prior to the commencement of CIRP - HELD THAT - Bearing in mind the developments that have taken place in the matter, the Special Leave Petition stands disposed of as having become infructuous - The Special Leave Petition is, accordingly, disposed of as withdrawn.
Issues involved: Amendment of petitioner's name post successful CIRP completion, Disposal of Special Leave Petition due to previous judgments.
Amendment of petitioner's name post successful CIRP completion: In the matter of I.A.No.53260/2024 in SLP(C)No.9772/2019, the Court allowed the petitioner's application to change the name to Minosha India Limited following the successful completion of the Corporate Insolvency Resolution Process (CIRP). The petitioner, now Minosha India Limited, is recognized as the successful resolution applicant. The amendment in the cause title was directed to reflect this change. Disposal of Special Leave Petition due to previous judgments: Regarding I.A.No.53247/2024 in SLP(C)No.9772/2019, the Special Leave Petition was deemed infructuous based on the Judgment dated 10.03.2021 in Civil Appeal No.2943-2944 of 2020. The said judgment confirmed that the new management post CIRP commencement would not be liable for any previous statutory dues or claims. Additionally, referring to the judgment of 16.10.2023 by NCLAT, it was argued that the respondent's claim against the petitioner no longer holds. Consequently, the Special Leave Petition was disposed of as withdrawn, considering the prayers made by the petitioner and the developments in the case. The respondent-State's claim was noted to no longer be valid post the NCLAT judgment. The Special Leave Petition was disposed of as withdrawn, while leaving open any questions of law that may arise. An interlocutory application for intervention was also disposed of in this regard.
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