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TMI Blog2022 (5) TMI 491X X X X Extracts X X X X X X X X Extracts X X X X ..... plication with the prayers needs to be allowed. Hence the demand of the Respondent prior to 20th September, 2018 amounting to Rs. 78,93,960.00, out of the total claim of Rs. 80,07,965.00 for the period February, 2016 to April, 2019 is hereby extinguished as prayed for in terms of the Resolution Plan approved - Application admitted. - MA (IBC) No. 01/GB/2021 in C.P. (IB)No. 20/GB/2017 - - - Dated:- 6-5-2022 - Hon ble Shri Rohit Kapoor, Member (J) And Hon ble Shri Prasanta Kumar Mohanty, Member (T) MS. RAKHI PURNIMA PAUL ADVOCATE PETITIONER NONE - RESPONDENTS CONFERENCE ORDER [ Per : Mr. Prasanta Kumar Mohanty , Member ( T ) ] 1. The present Miscellaneous Application is filed by the Assam Company India Ltd., the Applicant/CD herein under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 against the Assistant Provident Fund Commissioner, West Bengal, Kolkata seeking the following reliefs: i. The demand of the Respondent prior to 20th September, 2018 amounting to Rs. 78,93,960.00 out of the total claim of Rs. 80,07,965.00 for the period February, 2016 to April, 2019 be set aside and / or extinguished; ii. Stay of the order dated 22nd Februa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 2.5 The Applicant on receiving the said order replied to the Respondent vide letter dated 24th March, 2021 that recently the Applicant has undergone a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (Code, 2016) and the said CIRP ended on 20th September, 2018. During that period the management and control of the Company was handed over by the Resolution Professional and due to the process of CIRP and overall change in the management led to the discharge of functions of many old employees, therefore, personal hearing could not be attended. It was further informed that the amount of Rs. 78,93,960.00 out of the total claim of Rs. 80,07,965.00 pertains to the period prior to the effective date i.e. 20th September, 2018, therefore, such amount stands discharged and/or extinguished as per the Resolution Plan approved by the Tribunal. 2.6 Thereafter, on 15th April, 2021 the Respondent has issued a notice to the Applicant for recovery of an amount of Rs. 80,07,965.00 (Rupees Eighty Lacs Seven Thousand Nine Hundred Sixty-Five only) to be paid in accordance with the provisions of Section 8B of Employees Provident Funds Miscellaneous Pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... date fixed on 16.08.2019 before the Office of the APFC/SRO/ Park Street (Damage Cell) and thereafter, several opportunities were given to the Applicant for appearance and hearing on 12.09.2019, 04.10.2019, 01.11.2019, 28.11.209, 23.12.2019, 20.01.2020, 18.02.2020, 13.03.2020 and finally on 22.02.2021, but nobody appeared for hearing. Thereafter, the Respondent vide order dated 23.02.2021 directed the Applicant to pay Rs. 80,07,965.00 (Rupees Eighty Lacs Seven Thousand Nine Hundred Sixty-Five only) within 15 days from the date of receipt of the notice. It is further stated that thereafter, the Applicant sent a letter to the Respondent to recall the order of the Respondent dated 23.02.2021 asking for an opportunity to present the case. 4.2 When the Applicant did not comply with the Order of the Respondent dated 23.02.2021, the Respondent issued Demand Notice to the Applicant on 15.04.2021 and a certificate on 09.04.2021 was also issued to the Sub Regional Office of the Respondent for taking necessary steps for recovery of the said amount of Rs. 80,07,965.00 (Rupees Eighty Lacs Seven Thousand Nine Hundred Sixty-Five only). It is further stated that there is no irregularity, illega ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring, the matter will be heard ex-parte . 8. In compliance of our above order, the Applicant has filed their Supplementary Affidavit dated 16.02.2022 wherein the Applicant by reiterating the statement made in the Application has stated that 8.1 Post approval of the Resolution Plan of the Applicant /CD viz. Assam Company India Limited i.e. on 20th September, 2018 the Applicant has paid total provident fund dues amounting to Rs. 3,31,75,523.00 (Rupees Three Crores Thirty-One Lacs Seventy-Five Thousand Five Hundred Twenty-Three only) to the Respondent till December, 2021 and requested that copy of the summary of the computation reflecting the payment made to the Respondent along with payment receipts from September, 2018 till 2021 enclosed with the supplementary affidavit marked as Annexure- B, may be treated as part of the Annexures of the MA (IBC) No.1/GB/2021. 8.2 This Hon ble Bench while approving the Resolution Plan has categorically confirmed that all non-compliances, breaches and defaults of Assam Company India Ltd. for the period prior to the effective date i.e. 20.09.2018 shall be deemed to be waived by the concerned governmental authorities. 8.3 In accordance t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Resolution Plan submitted by him has been accepted as this would amount to a hydra head popping up which would throw into uncertainty amounts payable by the successful resolution applicant and (e) All claims must be submitted to and decided by the Resolution Professional so that a prospective resolution applicant knows exactly what has to be paid in order that it may then take over and run the business of the CD Hence, no one can come and raise demand/file claims after the Resolution Plan is approved and plan is under implementation. If claims are allowed to be admitted as and when the claims are submitted after the Plan is approved, then the Resolution Plan of the Stressed Assets shall fail and the objectives of the IBC defeated. 11. It is also observed that in the approved Resolution Plan, it was clearly stated that barring aside the claims admitted and forming part of the Resolution Plan any other claim and/or demand prior to the effective date shall stand extinguished. Under these circumstances, the present application with the prayers as aforesaid needs to be allowed. 12. While the matter came up on 26.11.2021, the Respondent was directed to give the details of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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