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Judgment
ORDER
06.12.2024:This is an appeal against an impugned order dated 06.07.2023. The impugned order was passed on an application filed by the Income Tax Department/Respondent for setting aside of letter dated 07.11.2022 issued by the Liquidator of M/s Lakshmi Energy and Foods Ltd on the ground there is delay in filing of its claim and rather the claim was already rejected on 27.08.2022.
The impugned order passed by the Ld. NCLT held there was no delay in filing the claim by the respondent as it was filed on 16.03.2020 prior to the liquidation of M/s Lakshmi Energy and Foods Ltd. In para 8 of the impugned order the Ld. NCLT records since the dues of the Respondent are Government dues they need to be treated as secured creditors. The challenge in this appeal is the Income Tax dues can not be equated with dues of secured creditors.
If one peruse the claim documents of the Income Tax Department filed with the RP and the then Liquidator; the respondent Department is claiming itself to be an operational creditor and not a secured creditor. Its claim and its updated claim(s) are annexed with Appeal Paper Book at Pages No.86, 90, 93 and 100. The said documents reveal the respondent department made a claim as an operational creditor within the meaning of section 5(20) of I&B Code and hence to this effect the observation made by the Ld. NCLT that the debt is of a secured creditor needs to be set aside.
Qua delay the learned counsel for the appellant submits the claim was initially filed by the respondent on 29.06.2022 and it was rejected on 22.08.2022. It is further argued an appeal under Section 42 of I&B Code against such rejection of claim was to be filed before the Ld. Adjudicating Authority within 14 days but was not filed within such period.
However, if one peruse claim documents, one would find the claim was initially filed on 16.03.2020. The claim form filed reveal penalty proceedings under Section 271(1)(c )of the Income Tax Act, 1961, which were still pending against the Company for the A.Y 2013-14 and 2017-18 and it noted, its non-compliance would lead to further demands. The claim form dated August 2022 revealed the penalty proceedings qua financial year 2017-18 were complete but the penalty proceedings for the AY 2013-14 were still pending and non-compliance could lead to further demand. The updated claim as on 26.8.2022 was for Rs.118,62,92,493/- and an updated claim of Rs.126,58,50,964/- as on 4.11.2022 were subsequently lodged after completion of penalty proceedings for AY 2013-14 but was rejected on 07.11.2022.
Thus from documents we find per Regulation 12(2) of IBBI (Liquidation Process) Regulations, 2016, there has been no delay in filing of the claim as was initially filed during the continuation of CIRP. The issue viz. if Income Tax dues, are dues of a secured creditor has no relevance in the context of this case as Income Tax Department has filed its claim as an operational creditor . Thus this issue is left open.
The Appeal is disposed of in terms of the above.
Pending applications stands disposed of.