Can the dues/outstanding be claimed by any of the Creditors of the Corporate Debtor after the approval of the Resolution Plan? – Bhagwati Power and Steel Ltd. & Anr Vs. Commissioner of Customs (Preventive) Commissionerate, Bhubaneswar, & Anr – NCLT Kolkata Bench
The Corporate Debtor was admitted into CIRP on 23 August, 2017 and the Resolution plan was approved by this Adjudicating Authority on 07 December, 2018, whereas demand notices issued by various statutory authorities deals with the debt prior to the CIRP period. Also, no steps were taken by any of the Respondents to file their claim before the IRP or RP. The issue involved in these IAs has already been well settled by the Hon’ble Supreme Court in Ghanashyam Mishra (2021) ibclaw.in 54 SC, wherein the Apex Court has clearly held that the intention behind the enactment of the Code was to help the Corporate Debtor revive and the SRA who is actively involved in such revival should be given a fresh slate. Hence, the Resolution Plan submitted by the SRA and once approved by the Adjudicating Authority as per section 31(1) of the Code shall be binding on all the stakeholders. If every time a new claim is tossed over towards the SRA after the approval of the Resolution Plan then the prima facie objective of the Code i.e., to make the Corporate Debtor as a going concern will rendered otiose. The term ‘stakeholders’ includes Central Government, any State Government or any local authorities, including tax authorities.