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TMI Blog2024 (9) TMI 248X X X X Extracts X X X X X X X X Extracts X X X X ..... agement. After the CIRP having commenced, all amount which is payable to the Corporate Debtor has to be given in the kitty of the Corporate Debtor and disbursement of the amount has to take place as per the Resolution Plan which has been approved by the CoC as submitted by the Counsel for the Appellant. The Appeal allowed in part and direction contained in paragraph 5.3 to the Principal Secretary, Directorate of Industries, Government of Maharashtra, to pay the amount of investment subsidy within 30 days in accordance with the disbursal advice to the Government Authorities as mentioned in paragraph 5.2 is set aside. Let the amount which has not yet been paid to the Corporate Debtor be paid to the Corporate Debtor within time as allowed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lanning of Maharashtra for release of the amount to the Government Authorities as mentioned therein. The Adjudicating Authority after referring to the aforesaid letter has directed the Principal Secretary, Directorate of Industries, Government of Maharashtra to pay the amount within 30 days to those Government Authorities as stated in paragraph 5.2. The Appellant aggrieved by the impugned order has come up in this Appeal. 3. Shri Abhijeet Sinha, Learned Senior Counsel for the Appellant submits that the letter relied by the Adjudicating Authority is written by erstwhile management and after initiation of the CIRP, all amount has to be paid to the Corporate Debtor and the claims of all authorities have to be satisfied as per the Resolution Pl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9,08,481 6 District Mining Officer, Yavatmal 7,04,05,417 Total 61,76,53,000 6. The CIRP against the Corporate Debtor commenced on 12.08.2022 and the letter dated 28.02.2022 which was relied in paragraph 5.2 was written by the erstwhile management. After the CIRP having commenced, all amount which is payable to the Corporate Debtor has to be given in the kitty of the Corporate Debtor and disbursement of the amount has to take place as per the Resolution Plan which has been approved by the CoC as submitted by the Counsel for the Appellant. 7. In view of the aforesaid, we partly allowed the Appeal and direction contained in paragraph 5.3 to the Principal Secretary, Directorate of Industries, Government of Maharashtra, to pay the amount of inve ..... X X X X Extracts X X X X X X X X Extracts X X X X
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