Bombay High Court
M/S. Tata Steel Bsl Limited Thr. ... vs Union Of India Thr. Secretary Ministry ... on 6 May, 2021
Bench: Sunil P. Deshmukh, Abhay Ahuja
17. WPST 10300-21.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIVIL APPELLATE JURISDICTION
WRIT PETITION (ST.) NO. 10300 OF 2021
M/s TATA Steel BSL Ltd. ... Petitioner
Vs.
Union of India & Anr. ... Respondents
Mr. Vikram Nankani, Senior Advocate with Mr. Vijay Purohit, Ms. Nikita
Bangera, Mr. Pratik Jhaveri, Mr. Virendra Vikram i/b P & A Law Offices,
Advocates for the Petitioner.
Mr.Ashutosh Mishra, Advocate for the Respondent No.1
CORAM : SUNIL P. DESHMUKH &
ABHAY AHUJA, JJ.
DATE : 6TH MAY 2021
( THROUGH VIDEO CONFERENCING )
P. C.
. Issue notice to the Respondents, returnable on 22nd June 2021.
Mr. Mishra waives notice for Respondent No.1.
2. Mr. Nankani for the Petitioner states that the issue is covered by Supreme Court Judgment delivered on 13 th April 2021, in the case of Ghanashyam Mishra and Sons Pvt. Ltd Vs. Edelweiss Asset Reconstruction Company Limited. Mr. Nankani draws our attention to paragraph 95 from the same, which reads thus:-
"95. In the result, we answer the questions framed by us as under:-
(i) That once a resolution plan is duly approved by the Adjudicating Authority under subsection (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 Nikita Gadgil 1 of 2 ::: Uploaded on - 07/05/2021 ::: Downloaded on - 10/09/2021 12:55:35 :::
17. WPST 10300-21.doc 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 plan;
(ii) 2019 amendment to Section 31 of the I & B Code is clarificatory and declaratory in nature and therefore will be effective from the date on which I & B Code has come in to effect;
(iii) Consequently 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 on which the Adjudicating Authority grants its approval under Section 31 could be continued."
3. Mr. Nankani submits that the Petitioner has undergone corporate insolvency resolution process (CIRP) and the resolution plan has been approved by Adjudicating Authority and the order in original cuts across the ratio of aforesaid judgment. The order in original concerned in present matter has been passed on 24 th February 2021, which is not in accord with said judgment.
4. In view of the same, till the next date there may not be any coercive action based on the impugned order.
( ABHAY AHUJA, J. ) ( SUNIL P. DESHMUKH, J. )
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