...laid down by this Court while interpreting Section 31 IBC, the respondents are now not entitled to claim any amount, which is not a part of the resolution plan.9. Ms...resolution plan, shall stand extinguished and no proceedings in respect of such dues for the period prior to the date on which the adjudicating authority grants its approval under Section 31 could be continued.”11. Admittedly, the claim in respect of the demand which is the subject-matter of the present proceedings was not lodged by Respondent 2 after public announcements were issued under Sections 13 and 15 IBC. As...”) in respect of the present appellant under the provisions of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “IBC”). The application of Standard Chartered Bank under Section 7...

...application CA No. 1526 of 2019 for approval of the resolution plan under Section 31 IBC before NCLT, along with Form H, as mandated under the CIRP Regulations. This application is currently pending...previously approved by the A-CoC and was pending confirmation by NCLT under Section 31 IBC. In its application, it prayed for the following reliefs:“(a) Allow the present application and...approved by the A-CoC, was no longer “feasible” and “viable” commercially, in accordance with Section 30(2)(d) read with proviso to Section 31(1) IBC, due to the intervening circumstances before its...

...General of India and Ms. Aastha Mehta, learned Advocate, referred to Sections 3(30) and 3(31) of the IBC, set out herein below:—“Section 3(30) and 3(31) of the Code read...” under Section 3(31) of the IBC and the State becomes a secured creditor under Section 3(30) of the Code.31. Mr. Nataraj, Additional Solicitor General submitted...Vishwanathan IBA/578/2019 NCLT. The rejection of the claim of the State is unsustainable in law.41. Section 31 of the IBC which provides for approval of a Resolution Plan by...

...SCC OnLine NCLAT 778 that this Tribunal to decide the application under Section 31 IBC without being influenced by the previous order. When such is the case, the revised liquidation value has no...inclined to deliberate on the question as raised in the present appeal, which may be answered in some other case. The Adjudicating Authority is now required to pass order under Section 31 of the I...resolution plan upon considering Section 31 of the 2016 Code. The adjudicating authority, inter alia, held and observed: [United Seamless Tubulaar (P) Ltd. case, 2019 SCC OnLine NCLT 713 SCC OnLine...

...permitted to participate in IA No.3 (Plan)/2026 which is pending consideration of the Adjudicating Authority under Section 31 IBC. 3. We do not consider that the Appellant...

...of 2021 under Section 31 of the IBC. The said Resolution Plan provided for the Page 3 of 9...the Plan Approval Order, explicitly stating inter alia that under Section 31 of the IBC, all pre-CIRP claims and statutory dues not included in the plan stood permanently extinguished.... Learned Advocate Mr. Yuvraj G Thakore appearing on behalf of the petitioners submitted that on the approval of the Resolution Plan under Section 31 of the IBC, all dues of the Corporate Debtor except...

...Resolution Process under Section 56, as the case may be, does not receive Resolution Plan under Section 30(6) of IBC or reject Resolution Plan under Section 31 IBC for non-compliance of the requirement...followed the Liquidation Process Regulations under IBC is concerned that the initiation of liquidation process commenced as per Section 33(1) of IBC wherein the Adjudicating Authority before expiry of...initiated under the provision of Insolvency and Bankruptcy Code, 2016 (In short ‘IBC’) by the Adjudicating Authority. In that process, the Liquidator, vide e-auction information document dated 15.02.2019...

...under Section 31 of IBC, before the NCLAT (Adjudicating Authority), seeking approval to Resolution Plan of Piramal Capital. (x) On 7 June 2021, NCLAT approved Piramal...). (xiv) In the meantime, Mr. Kapil Wadhwan, erstwhile Chairman of the DHFL, also challenged the said Section 31 order, and Resolution Plan before NCLAT. On 2 August, 2021 NCLAT issued notice in this Appeal. However, no interim relief was granted. (xv) On 2 July 2021, DHFL filed an application under Section 32A of IBC, seeking...CBI case in view of the order passed by the NCLT under Section 31 of the IBC. (xvi) On 5 August, 2021, Kapil Wadhwan (intervenor herein), sought intervention in the...

...Section 31 of the IBC, all dues of the Corporate Debtor except those which have been specifically provided for in the Resolution Plan would stand extinguished in terms of the provisions of the IBC and the...terms of Section 31 of the IBC. He however submits that in view of the said position, this Court may not enter into the merits of the issuance of notice under Section 263 of the Act...PLAN" 8.1 In terms of Section 31(1) of the IBC, this Resolution Plan shall be binding on the Corporate Debtor and its employees, members, creditors...

...(6) and "debt" as defined under Section 3(11) and "approval of resolution plan" under Section 31 of the Insolvency and Bankruptcy Code , 2016 (for short "IBC") Ms. Sancheti, learned advocate...therefore, on the date of issuance of the order for "approval of resolution plan" under section 31 of the IBC, there was no existing debt or claim against the petitioner and therefore, the order for..."approval of resolution plan" under Section 31 (1) of the IBC is not applicable to the present case and therefore, the decision of the Apex Court in the case of Edelweiss (Supra) will not be...

..., learned advocate appearing on behalf of the petitioner submitted that on the approval of the Resolution Plan under Section 31 of the IBC, all dues of the Corporate Debtor except those which have been...Senior Standing Counsel for the Respondent-Department is not in a position to controvert the position of law as far as the extinguishment of the tax dues are concerned in terms of Section 31 of the IBC. He...RESOLUTION PLAN" 8.1 In terms of Section 31(1) of the IBC, this Resolution Plan shall be binding on the Corporate Debtor and its employees, members...

.... 5. Mr. B.S.Soparkar, learned advocate appearing on behalf of the petitioner submitted that on the approval of the Resolution Plan under Section 31 of the IBC, all dues of the Corporate Debtor...terms of Section 31 of the IBC. He however submits that in view of the said position, this Court may not enter into the merits of the issuance of notice under Section 263 of the Act...:- "EFFECT OF THE RESOLUTION PLAN" 8.1 In terms of Section 31(1) of the IBC, this Resolution Plan shall be binding on the Corporate Debtor and its...

...advocate Ms. Manvi Damle appearing on behalf of the petitioner submitted that on the approval of the Resolution Plan under Section 31 of the IBC, all dues of the Corporate Debtor except those which have...terms of Section 31 of the IBC. 7. DISCUSSION & FINDINGS :- 7.1. A perusal of the Resolution Plan which came to be approved on...other stakeholders (including the existing promoter group) in accordance with Section 31 of the IBC. (iii...

...committee of creditors. Ultimately, the resolution plan was approved by NCLT on 17.04.2018 under Section 31 of the IBC on and from which date the moratorium period came to an end...resolution plan of the petitioner which was duly approved under Section 31 of the IBC? 19. Insofar the first question is concerned, High Court opined that the plea of...the arbitral award notwithstanding approval of the resolution plan by the NCLT under Section 31 of IBC. Reasoning given by the High Court is that the arbitral proceedings were initiated prior to the...

...definitions contained in Section 3(30) and Section 3(31) of the IBC. In effect, on legal advice, the Respondent was opined as an Unsecured Financial Creditor. This resulted in the Respondent filing...Section 31 or in process from Sections 38 to 41 and 54 of IBC, the basis of Section 138 of the N.I. Act disappears. We may note that these provisions fall under Chapter III of the IBC...under Section 31 or Sections 38 to 41 which can extinguish the debt would ipso facto apply to the extinguishment of the criminal proceedings. No doubt in terms of the Scheme under the IBC there are...

.... ………….. 109.1. After passing of the resolution plan under Section 31 IBC by the adjudicating authority & in the light of the provisions of Section 32-A IBC, the criminal...passed by the National Company Law Tribunal, Kolkata Bench on 13.03.2019 and 24.02.2020, the complaint case No. C.S. 40032 of 2015 under Section 138/141 of the Negotiable Instrument Act, 1881 cannot.... Learned advocate for the complainant/opposite party stressed on the issue relating to Section 32-A of the Insolvency and Bankruptcy Code, 2016, emphasizing that the petitioner cannot as a matter of...

...Court in the context of Section 31 of the IBC and the law enunciated in Ghanashyam Mishra and Sons Pvt. Ltd...the approval of the Resolution Plan by virtue of Section 31 of the IBC. It was the submission of Ms. Jha that this Court has consistently taken the position that such an action would not sustain bearing...:- "41. Section 31 IBC which provides for approval of a resolution plan by the adjudicating authority makes it clear that the adjudicating authority can approve the...

...submitted that on the approval of the Resolution Plan under Section 31 of the IBC, all dues of the Corporate Debtor except those which have been specifically provided for in the Resolution Plan would stand...in terms of Section 31 of the IBC. 6. DISCUSSION & FINDINGS :- 6.1. A perusal of the Resolution Plan which came to be approved on... resolution plan. 102.2 The 2019 Amendment to Section 31 IBC is clarificatory and declaratory in nature and therefore will be effective from the...

...Court has held as under: 109.1. After passing of the resolution plan under Section 31 IBC by the adjudicating authority & in the light of the provisions of Section...after passing of the resolution plan under Section 31 of IBC by the adjudicating authority and in the light of the provisions of Section 32-A of IBC, the criminal proceedings under Section 138 of N.I...there is no taking over of the corporate debtor i.e., petitioner No.1 by a new management under resolution plan under Section 31 of IBC by the adjudicating...

...dues prior to approval of resolution plan stood discharged by virtue of Section 31(1) of the IBC. In addition, petitioner No. 1 also informed respondent No. 2 that the factory remained closed from...creditor of the corporate debtor i.e. petitioner No. 1. As a consequence of approval of the resolution plan under Section 31(1) IBC, the resolution plan is binding on the corporate debtor as well as...and proceedings would stand extinguished. Thus any claim on the petitioners for the past period prior to approval of resolution plan stood discharged by virtue of Section 31 of IBC. However, this...