The IBC shall override Public Premises (Eviction of unauthorized occupants) Act, 1971 – Board of Trustees for Shyama Prasad Mookherjee Port, Kolkata Vs. Brighter Side Renewable Energy Ventures Pvt. Ltd. – NCLT Kolkata Bench
The Hon’ble NCLT Kolkata Bench held that:
(i) In terms of the provision ingrained in Section 238 of the I&B Code, the Code shall override all other statutory provisions that may tend to an affect or impede a corporate insolvency resolution process initiated under the I&B Code including the Public Premises (Eviction of unauthorized occupants) Act, 1971 (PP Act) and the Resolution Plan being already approved with waivers and concessions, granted under the I&B Code, the occupational charges that was allowed to be levied on an interim measure, until a decision is taken by the Estate Officer under the PP Act, cannot be allowed to be levied any further after approval of the Resolution Plan.
(ii) If a creditor failed to lodge its claim with the RP during the CIRP, once a resolution plan approved by CoC by requisite voting shares and subsequently by the Adjudicating Authority, all the past dues due stand waived, and the claim gets extinguished. The claims, that are not part of the resolution plan, shall stand extinguished and the proceedings related thereto shall stand terminated.
