9911796707
TMI Blog2021 (7) TMI 1420X X X X Extracts X X X X X X X X Extracts X X X X ..... g GST dues - Appellant submits that the amount approved for the Appellant Operational Creditor is too insufficient considering the claim which was outstanding - HELD THAT:- Hon ble Supreme Court in Ghanashyam Mishra and Sons Private Limited vs. Edelweiss Asset Reconstruction Company Limited . Others [ 2021 (4) TMI 613 - SUPREME COURT ] has held that once a resolution plan is duly approved by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Appeal. The Appeal is disposed of as not admitted. - [ Justice A.I.S. Cheema ] The Officiating Chairperson And [ Dr. Alok Srivastava ] Member ( Technical ) For the Appellant : Mr. Sonu Bhatnagar, Sr. Advocate with Mr. Vaibhav Joshi, Ms. Mallika Joshi and Mr. Venus Mehrotra, Advocates For the Respondent : Mr. Jaimin R Dave, Advocate ORDER ( Virtual Mode ) This Appeal has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rporate Debtor. The claim, as pointed out at page 47, is dated 30th May, 2019. The Learned Counsel submits that the claim was admitted to the extent of Rs.2,36,67,282/-. It is stated that the Resolution Plan approved by the Committee of Creditors has made provision of only Rs.1,18,336/- as full and final settlement of the dues of the Appellant, as can be seen from Annexure A-4 (Page 53). 3. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng Authority under subsection (1) of Section 31, the claims as provided in the resolution plan shall stand frozen and will be binding on the Corporate Debtor and its employees, members, creditors, including the Central Government, any State Government or any local authority, guarantors and other stakeholders. On the date of approval of resolution plan by the Adjudicating Authority, all such claims ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Hon ble Supreme Court, the Resolution Plan approved is binding on the Central Government, State Government, any local authority, Guarantors and other stakeholders. Sufficiency or insufficiency of the amount is matter of Commercial Decision of the Committee of Creditors. It would not be appropriate on our part to interfere in the same. As such, the appeal does not make out any ground to admi ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
