Case Law Details
Electrosteel Steels Ltd. Vs Commr. of CGST & Central Excise (CESTAT Kolkata)
All the dues including the statutory dues owed to the Central 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.
Commr. of CGST & Central Excise not entitled to recover any claims or claim any debts owed to them from the Corporate Debtor accruing prior to the transfer date. Needless to state, that the consequences thereof shall follow.
FULL TEXT OF THE CESTAT KOLKATA ORDER
When the Appeal came up for hearing, the Ld. Advocate appearing on behalf of the Appellant submits that against the Appellant NCLT provisions were invoked by State Bank of India. Accordingly, Shri Dhaivat Anjaria was appointed as Interim Resolution Professional (IRP). In Appeal Petition before the Hon’ble Supreme Court of India vide Civil Appeal No.8129 of 2019 in the Appellant own case, these facts have been recorded in Para 26 of the judgment. In para 95 of the Judgment, the Hon’ble Apex Court has answered the questions framed by it is as under:-
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