Excise and Taxation Department vs Sunstar Overseas Ltd. & Anr.

Heard learned counsel for the Appellant and Shri Abhishek Anand, learned counsel appearing for the Respondent. This Appeal has been filed against the judgment and order dated 12.09.2019 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi in CP. No. (IB) 265/PB/2018 by which order the Adjudicating Authority has approved the Resolution Plan of the Corporate Debtor. The CIRP proceedings were initiated against the Corporate Debtor by order dated 20.07.2018. The Appellant’s case is that after the Department received information from the Interim Resolution Professional (IRP) they sent an email on 31.12.2018 alongwith claim which however could not be received by the IRP due to wrong email address. Subsequently, they again sent the claim by email dated 29.07.2019 which was not admitted by IRP since by that time the Committee of Creditor has already approved the Resolution Plan on 03.05.2019.

Learned counsel for the Appellant submits that the Department was not slack in submitting its claim. The claim was sent by email dated 31.12.2018 that is prior to approval of the Resolution Plan but unfortunately the same could not be received by the IRP. Subsequently, an email was sent on 29.07.2019. It is submitted that in view of the objective of the Insolvency and Bankruptcy Code, the claims of all the stakeholders are to be balanced. There is no reflection of the claim in the Resolution Plan.

Shri Abhishek Anand, learned counsel for the Respondent submits that the email by which claim was sent by the Department was received much after the approval of the Resolution Plan on 03.05.2019, hence claim of the Department could not be admitted by the IRP nor same could be reflected in the Resolution Plan.

We have heard submissions of learned counsel for the parties and perused the record. From the facts on the record, there is no dispute that Committee of Creditors has considered the Resolution Plan and approved it with 100% voting share on 03.05.2019 and it is only after said date on 29.07.2019 the claim of the Appellant was sent and received by the IRP. The earlier email by which claim was sent by the Appellant was not delivered due to wrong email address given by Appellant itself.

Present is a case, where Appellant having not filed the claim within time, we do not find any error in not accepting their claim by the IRP and their claim not reflected in the Resolution Plan. We, thus, do not find any reason to interfere with the order of the Adjudicating Authority approving the Resolution Plan. No other grounds have been pressed. The Appeal is dismissed.