Icomm Tele Mazdur Sangh And ... vs The Union Of India And 8 Others
2021 Latest Caselaw 1591 Tel

Item No.29

      THE HON'BLE THE CHIEF JUSTICE HIMA KOHLI
                         AND
      THE HON'BLE SRI JUSTICE B. VIJAYSEN REDDY

                          W.P.No.29233 OF 2019

ORDER: (Per the Hon'ble the Chief Justice Hima Kohli)

1.     On the last date of hearing, at the request of learned counsel for

the respondents No.3 to 5, who had sought time to inform the court of

the orders to be passed by the National Company Law Appellate

Tribunal (NCLAT) on an application moved by them, the matter was

adjourned for today.

2. A month thereafter, the Supreme Court has rendered a judgment

dated 13.04.2021 in Ghanashyam Mishra and Sons Private Limited v.

Edelweiss Asset Reconstruction Company Limited, reported as 2021

SCC OnLine SC 313, wherein it has been held as follows:-

95. (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 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.

(b) xxx

(c) 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."

3. On enquiring from learned counsel for the petitioners as to

whether the Resolution Plan in respect of the respondent

No.6/Corporate Debtor had already been approved, it is conceded by

learned counsel for the petitioners that the Resolution Plan was

approved on 17.10.2019. Learned counsel fairly states that he may be

permitted to withdraw the present petition while reserving the right of

the petitioners to seek impleadment before the NCLAT.

4. Without commenting on the merits of such an application, if

moved by the petitioners, the present petition is closed along with the

pending applications, if any.

_________________ HIMA KOHLI, CJ

______________________ B. VIJAYSEN REDDY, J 09.06.2021 Lrkm/pln