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TMI Blog2024 (5) TMI 806X X X X Extracts X X X X X X X X Extracts X X X X ..... xtinguished in view of the implementation of the Resolution Plan and change in management and control of the assessee in view of the provisions of Sections 31 and 32A of the IBC as per the decision of the Hon ble Apex Court referred to therein. Applying the ratio laid down in the case of Ghanashyam Mishra and Sons v. Edelweiss Asset Reconstruction 2021 (4) TMI 613 - SUPREME COURT , as the facts are identical, these Tax Appeals are disposed of as abated and the proposed questions are, accordingly, not answered. In view of disposal of the Tax Appeals, Civil Applications would not survive and are, accordingly, disposed of. - R/TAX APPEAL NO. 1270 of 2006 With CIVIL APPLICATION (DIRECTION) NO. 1 of 2024 In R/TAX APPEAL NO. 1270 of 2006 With C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not find mention about the degradation/reduction of carotenoid content (as beta carotene) due to passage of time, change in atmosphere condition and temperature? (B) Whether or not benefit of Notification No.21/2002 Cus dated 01.03.2002 as amended would have been granted to the respondents, ignoring the test report of the Chemical Examiner and the Chief Chemist of the Government and relying upon the test opinion of the private laboratory? [3] At the outset, learned advocate Mr. Dipen Desai for the respondent submitted that these Tax Appeals would not survive qua the respondent and the same would abate in view of the reasoning assigned by this Court in similar R/Tax Appeal No.32 of 2019. It was pointed out that the respondent was subject to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Resolution Professional within specified time limit as per the provisions of IBC and the Resolution Plan is approved by NCLT in the year 2019. The issues involved in this appeal pertains to demand for period prior to the approval of the Resolution Plan by the NCLT. 7. The Apex Court in case of respondent in Civil Appeal No. 447- 448 of 2013, after recording the facts held as under : Admittedly, the claim in respect of the demand which is the subject matter of the present proceedings was not lodged by the respondent no. 2 after public announcements were issued under Sections 13 and 15 of the IBC. As such, on the date on which the Resolution Plan was approved by the learned NCLT, all claims stood frozen, and no claim, which is not a part ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase, and the corporate debtor shall not be prosecuted for such an offence from the date the resolution plan has been approved by the Adjudicating Authority under section 31, if the resolution plan results in the change in the management or control of the corporate debtor to a person who was not - (a) a promoter or in the management or control of the corporate debtor or a related party of such a person; or (b) a person with regard to whom the relevant investigating authority has, on the basis of material in its possession, reason to believe that he had abetted or conspired for the commission of the offence, and has submitted or filed a report or a complaint to the relevant statutory authority or Court : Provided that if a prosecution had bee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ld as under : 102. In the result, we answer the questions framed by us as under: 102.1. That once a resolution plan is duly approved by the Adjudicating Authority under sub-section (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, which are not a part of resolution plan, shall stand extinguished and no person will be entitled to initiate or continue any proceedings in respect to a claim, which is not part of the resolution p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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