Resolution Plan having been approved it is always open for SRA to make appropriate application before the Statutory Authority for grant of relief as permissible after approval of the Resolution Plan – Worldfa Exports Pvt. Ltd Vs. Vivek Raheja and Anr. – NCLAT New Delhi
Hon’ble NCLAT held that:
(i) Adjudicating Authority has rightly observed that SRA to file appropriate necessary application before the necessary Forum/Authority in order to avail the relief and the concession.
(ii) The Resolution Plan having been approved it is always open for the Applicant to make appropriate application before the Statutory Authority for grant of such relief as permissible after approval of the Resolution Plan.
(iii) It goes without saying that all past liabilities which are not dealt with in the Resolution Plan stands extinguished by view of the Judgment of the Hon’ble Supreme Court in Ghanshyam Mishra & Sons Pvt. LTd. which is a well settled law.
