Vinit

For the Applicant / RP

: Mr. Arjun Padhiyar, Adv.

: Mr. Pratik Thakkar, Adv.

For the Respondent

: Mr. Chirag Patel, Adv. AGP for State Tax Officer

ORDER

IA 343 of 2022

Application is filed by RP against the State Tax Department for lifting the attachment

on the property of the corporate debtor. Learned Counsel for the RP states that the

Hon’ble Gujarat High Court has quashed the attachment of the respondent

department vide judgment dated 21.01.2020. So far it is informed that this order of

the Hon’ble Gujarat High Court is not impugned before the Apex Court, and is also

not implemented. Learned Counsel for the State Tax Department states that in view

of the dues of the department, and the attachment recorded in the land revenue

records, the land revenue department should comply the order of Hon’ble Gujarat

High Court and take appropriate steps.

IN THE NATIONAL COMPANY LAW TRIBUNAL, AHMEDABAD

COURT - 2

ITEM No 204- IA 221 of 2022

ITEM No 205- IA 343 of 2022

ITEM No 206- IA 577 of 2022

ITEM No 207- IA 576 of 2022

In

CP(IB) 349 of 2018

Proceedings under Section 7 IBC

IN THE MATTER OF:

Bank of India

V/s

Multi Arc Coating and Straps Ltd

........Applicant

........Respondent

Order delivered on ..13/12/2022

Coram:

Dr.Deepti Mukesh, Hon’ble Member(J)

Ajai Das Mehrotra, Hon’ble Member(T)

PRESENT:

Vinit

Be that as it may, the CoC in this matter has approved the Resolution Plan, and

application is pending before this Bench for approval of plan. During the pendency of

this application for approval of plan the Apex Court judgment in the Rainbow Papers

Limited matter was delivered, and accordingly the RP was directed to take

instructions with respect to whether the plan is in compliance with the said judgment.

Learned Counsel for RP states that the said judgment of the Rainbow Papers

Limited matter is pending in review petition before the Hon’ble Supreme Court, and

the matter is listed tentatively in first week of January, hence, requests to list this

matter along with the application for Resolution Plan.

In the meantime, Learned Counsel for the State Tax Department seeks and is

granted ten days time to take appropriate instruction with respect to lifting of the

attachment from the property of the corporate debtor in view of the State Tax

Department now being considered as the secured creditor.

List on 11.01.2023.

IA 577 of 2022

Application is filed by the Labour Union of the corporate debtor seeking to condone

the delay of 143 days in filing the claim of the employees. Learned Counsel Mr.

Pratik Thakkar states that the employees had approached the Labour Court, and has

obtained the order in their favour with respect to their dues, and in pursuance of the

said order they are the claimants as workers / employees, the same claim could not

be filed, as the workers are scattered, there are many, and they were not conversant

with the claims process. Hence, there was delay in filing the claim. Learned Counsel

further states that out of total number of workers who have obtained some order /

decree from the Labour Court about their respective claims around 80 claims of such

Vinit

workmen / employees are being filed along with the copy of the order of the Labour

Court, with the translation copy, which may be considered and if the delay is

condoned then the claims can be filed before the RP for consideration.

In our view, even though at belated stage since the workers / employees are having

order of the Labour Court in their favour, duly adjudicating their claims before the

company (corporate debtor) is desirable.

We condone the delay in filing the claims before the RP, and allow the application,

and further direct the claimants to file their claim within a week with RP and the same

be collated by RP, and admitted as per law. It is important to mention that, since the

plan is pending, and which is being reconsidered in view of the judgment