Revent Precision Engineering ... vs Office Of The Joint Commissioner ...
2023 Latest Caselaw 4876 Raj/2

[2023:RJ-JP:22873-DB]

        HIGH COURT OF JUDICATURE FOR RAJASTHAN
                    BENCH AT JAIPUR

                 D.B. Civil Writ Petition No. 14179/2023

Revent Precision Engineering Limited, A Company having its
registered office at Forging Division Unit-II, Begumpur Khataula,
Post    Office   -   Khandsa,        Gurugram,           Haryana-122004,      India
through its Company Secretary.
                                                                      ----Petitioner
                                       Versus
Office of the Joint Commissioner, State Tax, Circle-A, Bhiwadi.
                                                                    ----Respondent

For Petitioner(s) : Mr. Kamlakar Sharma, Sr. Advocate assisted by Ms. Alankrita Sharma For Respondent(s) : Mr. Umang Gupta with Mrs. Aditi Khandelwal

HON'BLE MR. JUSTICE MANINDRA MOHAN SHRIVASTAVA HON'BLE MR. JUSTICE PRAVEER BHATNAGAR

Order

14/09/2023

Learned counsel for the parties jointly submit that the issue

raised in this petition is squarely covered by the judgment passed

by Hon'ble Supreme Court in the case of Ghanashyam Mishra

and Sons Private Limited through the Authorised Signatory

Vs. Edelweiss Asset Reconstruction Company Limited

through the Director & Ors; (2021) 9 SCC 657.

In the aforesaid decision it has been firmly concluded as

below: -

"102.1. That once a resolution plan is duly approved by the adjudicating authority under sub- section (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 employees, members, creditors, including the Central Government, any State Government or

[2023:RJ-JP:22873-DB] (2 of 2) [CW-14179/2023]

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.

102.2. The 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 the I&B Code has come into effect. 102.3. Consequently all the dues including the statutory dues owned 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."

Learned counsel for the respondent would submit that at the

time of passing impugned order the respondent parties were not

aware of a resolution plan duly approved by the adjudicating

authority under sub-section (1) of Section 31 of the I&B. He would

submit that in view of the aforesaid decision, the impugned order

could not have been passed so as to pass on liability against the

verdict of the Hon'ble Supreme Court.

In view of the submissions made by learned counsel for the

respondent and the decision of Hon'ble Supreme Court the

impugned order shall be of no effect and consequence against the

petitioner.

Accordingly, the writ petition is disposed of.

(PRAVEER BHATNAGAR),J (MANINDRA MOHAN SHRIVASTAVA),J

9-/DHARMENDRA RAKHECHA

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