Income Tax Department vs Chirag Rajendrakumar Shah Resolution ...
- CitationCompany Appeal (AT) (Insolvency) No. 2092 of 2024
Ratio decidendi
The rule this decision rests on
Where a creditor, here the Income Tax Department, has not filed its claim with the Resolution Professional, the Adjudicating Authority does not err in approving a resolution plan that makes no provision for that creditor's dues, since the omission of such dues from the plan is not a ground for setting aside the approval.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE MATTER OF: Income Tax Department ...Appellant Versus Chirag Rajendrakumar Shah, RP of Madhu Aluminium Pvt. Ltd. & Anr. ...Respondents
Present: For Appellant : Ms. Bhumi Gandhi, Proxy.
For Respondents : Ms. Anjali Sharma, Mr. Mandeep Singh Vinaik and Mr. Deepak Bashta, Advocates.
ORDER
(Hybrid Mode)
09.12.2024 : I.A. No. 7808/2024
1. This is an Application praying for condonation of 11 days delay in filing
the Appeal.
2. Sufficient cause has been shown in Paragraphs 3 & 4 of the Application.
Delay condoned.
Comp. App. (AT) (Ins.) No. 2092/2024
1. This Appeal has been filed against an Order dated 11.09.2024 passed
by the Learned Adjudicating Authority (National Company Law Tribunal,
Indore Bench) in IA(Plan)/02/MP/2024 in C.P. (IB)/41/MP/2022, by which
Order, Adjudicating Authority has approved the Resolution Plan of the
Corporate Debtor M/s. Madhu Aluminium Pvt. Ltd. The Appeal has been filed
by the Income Tax Department challenging the Order impugned.
2. It is submitted by the Counsel for the Appellant that dues of the Income
Tax Department have not been taken care in the Resolution Plan.
3. Learned Counsel for the Respondent submits that Income Tax
Department has never filed its claim before the Resolution Professional (RP),
there was no occasion of reflecting the dues of Income Tax Department.
4. We have considered the submissions of Counsel for the Parties and
perused the record.
5. On a pointed query, Learned Counsel for the Appellant does not dispute
the submission that claim was not filed before the RP by the Department.
There being no claim filed by the Income Tax Department, we do not find any
fault in the Order Impugned approving the Resolution Plan.
There is no merit in the Appeal. The Appeal is dismissed.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical)
[Arun Baroka] Member (Technical) himanshu/nn
Comp. App. (AT) (Ins.) No. 2092 of 2024 & I.A. No. 7808 of 2024 2 of 2
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