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Judgment
Heard Mr. Karan Valecha, Ld. Counsel who appeared on instruction of Mr. Maulik Nanavati Ld. Counsel for the Appellant as well as Ms. Honey Satpal, Ld. Counsel appearing on behalf of Respondent No. 1 & 2.
The Present appeal was filed under Section 61 of IBC, 2016 against part of an order dated 15.06.2020, passed by the National Company Law Tribunal, Ahmedabad Bench, Court No.- 1 in CP (IB) 81/AHM/2019 in IA 260/(AHM)/ 2020, IA 261/(AHM)/2020. By the said order, the application filed on behalf of the Appellant was dismissed on the following grounds:
(i) The Sales Tax Officer cannot be a secured creditor
(ii) CIRP still on and RP yet to get resolution plan.
(iii) In case, resolution plan fails, during the process of liquidation he can claim the amount.
Ld. Counsel for the Respondent submits that Resolution Plan has already been approved. In view of change circumstances, it would be appropriate to dispose of the present appeal, granting liberty to the appellant to approach the NCLT. If such application is filed we expect that Ld. NCLT may examine the same and pass appropriate order in accordance with law expeditiously.