9911796707
TMI Blog2024 (12) TMI 336X X X X Extracts X X X X X X X X Extracts X X X X ..... Dewan Housing Finance Corporation Limited (Corporate Debtor), requiring the Corporate Debtor to show cause why service tax amounts should not be recovered. Pending the adjudication of the show cause notices, the Reserve Bank of India (RBI) filed Company Petition (IB) No. 4258/MB/2019 before the NCLT initiating the corporate insolvency resolution process against Corporate Debtor. This Petition was admitted by the NCLT on 03 December 2019 - The Impugned Order-in-Original was made on 29 April 2022. On this date, the NCLAT s order dated 12 July 2021 was not pointed out to the 2nd Respondent since the personal hearing had concluded on 25 February 2021. The 2nd Respondent has, therefore, relied upon the direction in paragraph 95 (ii) of the NCLT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The record shows that the show cause notices dated 17 October 2018 and 14 October 2019 were issued to Dewan Housing Finance Corporation Limited (Corporate Debtor), requiring the Corporate Debtor to show cause why service tax amounts should not be recovered. Pending the adjudication of the show cause notices, the Reserve Bank of India (RBI) filed Company Petition (IB) No. 4258/MB/2019 before the NCLT initiating the corporate insolvency resolution process against Corporate Debtor. This Petition was admitted by the NCLT on 03 December 2019. 7. On 22 December 2020, the Petitioner and the resolution professional filed a detailed resolution plan consistent with the provisions of the Insolvency and Bankruptcy Code 2016 (IBC). On 24 December 2019, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h 95 (ii) of NCLT s order dated 07 June 2021. 12. By order dated 12 July 2021, the NCLAT was pleased to modify the direction in paragraph 95 (ii) of the NCLT s order dated 07 June 2021 by observing as follows:- (A) In view of the above, we direct that in place of the above impugned Para (ii) in the impugned order, the direction shall be:- All the dues including the statutory dues owed to the Central Government, any State Government or any local authority, if not part of the resolution plan, shall stand extinguished and no proceedings in respect of such dues for the period prior to the date the Adjudicating Authority was granting its approval under Section 31 could be continued.' 13. The Impugned Order-in-Original was made on 29 April 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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