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TMI Blog2024 (11) TMI 323X X X X Extracts X X X X X X X X Extracts X X X X ..... pproval of the resolution plan. We therefore, deem it appropriate to quash and set aside the notices issued u/s 148 of the Act as well as the impugned order passed under Section 148A (d). - HONOURABLE MR. JUSTICE BHARGAV D. KARIA AND HONOURABLE MRS. JUSTICE MAUNA M. BHATT Appearance: For the Petitioner(s) No. 1: Mr. B.S. Soparkar (6851). For the Respondent(s) No. 1: Karan G Sanghani (7945). For the Respondent(s) No. 2: Notice Unserved. ORAL JUDGMENT (PER : HONOURABLE MRS. JUSTICE MAUNA M. BHATT) 1. Heard learned advocate Mr. B.S. Soparkar for the petitioner and learned Senior Standing Counsel Mr. Karan G. Sanghani for the respondent No. 1 2. Rule, returnable forthwith. Learned Senior Standing Counsel Mr. Karan Sanghani waives service of n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Regulations, 2016 thereby inviting claims from various creditors of the petitioner and in response thereto, among other claims, the Interim Resolution Professional received a claim of Rs. 1,26,80,855/- from the Deputy Commissioner of Income Tax, Rajkot which was verified and admitted in its entirety. The Deputy Commissioner of Income Tax, Rajkot was thus classified as an Operational Creditor in accordance with provisions of the Code and this was the only claim received from the Income Tax Department pursuant to the public announcement. 4.4. It is the case of the petitioner that under the CIRP, the Resolution Plan of one M/s. Zaveri Co. Private Limited for the revival of the Petitioner was approved by the Hon'ble Tribunal on 14.10.2021 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -satisfied with the notices dated 05.04.2021 and 29.07.2022 issued under Section 148 of the Act as well as the order passed under Section 148A (d) of the Act dated 29.07.2022 the petitioner has filed this petition before this Court. 5.1. Learned advocate Mr. B.S. Soparkar for the petitioner submitted that in view of the settled legal position and in view of resolution plan being approved by order dated 14.10.2021, all past dues of the Income Tax Department got extinguished and therefore, the notice notices dated 05.04.2021 and 29.07.2022 issued under Section 148 of the Act as well as the impugned order passed under Section 148A (d) of the Act dated 29.07.2022 for Assessment Year 2015-16 deserves to be quashed and set aside. 5.2. In support ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case of Ghanashyam Mishra (Supra) it is held as under : 102. NCLT found, that by email dated 6.1.2018, EARC had submitted its claim in Form C for an amount of Rs .648,89,62,395/-. In response to the said email, RP sought a clarification, as to whether the corporate guarantee had been invoked by the applicant. RP had not received any response till 21.2.2018 from EARC. Despite repeated requests made by RP, EARC did not respond to the query made by RP. From the record placed before NCLT, it was clear, that EARC had not invoked the corporate guarantee. NCLT therefore posed a question to itself, as to whether an uninvoked corporate guarantee could be considered as matured claim of the applicant. NCLT found, that once the moratorium was applied ..... X X X X Extracts X X X X X X X X Extracts X X X X
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