9911796707
TMI Blog2023 (6) TMI 1281X X X X Extracts X X X X X X X X Extracts X X X X ..... vesting of the Management of the company in the hands of Successful Resolution Applicant. The provision of subsection (1) of Section 31 of the IBC and judgment of Hon ble Supreme Court relied upon by the learned AR leave no doubt that all the claims of Revenue for the period prior to institution of CIRP stand extinguished. Moreover, in the case in hand even demands of Department have been considered, adjudicated and payments have been made to the Income-tax Department consequent to the Resolution Plan. Consequently, appeals of Revenue are left with no merit and the same are dismissed. - ITA No. 4351, 4352, 4353/DEL/2017 And ITA No. 4356 /DEL/2017 - - - Dated:- 28-6-2023 - Shri M. Balaganesh, Accountant Member And Shri Anubhav Sharma, J ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... operational creditors regarding outstanding dues of Rs. 21,30,48,470/- was submitted, as reflected on page 107 of the PB, wherein list of operational creditors (Government dues) have been reflected. Resolution plan was submitted on 27.12.2018, copy of which has been made available at pages 1 to 29 of the PB. It is pertinent to mention that at page 11, proposal for payment of statutory dues has been disclosed. It further comes up that vide order dated 30.05.2019 the Resolution Plan was approved by the Principal Bench of NCLT, Delhi in favour of SRA, GP Global Energy Pvt. Ltd. On 06.05.2022 the Resolution Plan received final approval from the Principal Bench of NCLT. A copy of order dated 06.05.2022 is available on record from pages 64 to 105 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aforesaid facts the Bench is of the considered view that the statutory demands of the Revenue stand extinguished consequent to approval of Resolution Plan and vesting of the Management of the company in the hands of Successful Resolution Applicant. The provision of subsection (1) of Section 31 of the IBC and judgment of Hon ble Supreme Court relied upon by the learned AR leave no doubt that all the claims of Revenue for the period prior to institution of CIRP stand extinguished. Moreover, in the case in hand even demands of Department have been considered, adjudicated and payments have been made to the Income-tax Department consequent to the Resolution Plan. Consequently, appeals of Revenue are left with no merit and the same are dismissed. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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