MOHOTA INDUSTRIES LIMITED,HINGANGHAT vs. COMMISSIONER OF INCOME-TAX (APPEALS), INCOME TAX DEPARTMENT
Facts
Appeals were filed by the Director of Mohota Industries Limited. No one appeared for the appellant company during the hearing. The National Company Law Tribunal (NCLT) had already passed an order in favour of M/s. Shriniwas Spintex Industries Pvt. Limited, the Resolution Applicant.
Held
The appeals have to be filed by the Resolution Applicant, not the Director, as Mohota Industries Ltd. had become functus officio. Therefore, the appeals filed by the director are dismissed as non-maintainable.
Key Issues
Whether the appeals filed by the director of the company are maintainable after an NCLT order in favour of the Resolution Applicant?
Sections Cited
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, Mumbai “D” Bench, Mumbai.
Before: Shri Narender Kumar Choudhry (JM) & Shri Omkareshwar Chidara (AM)
Per Omkareshwar Chidara (AM) :-
In this case, the appeals were filed before the ITAT by Mr. Govind Gopaldas Rathi, Director of Mohota Industries Limited on 26.6.2024. The cases were posted for hearing on 8.12.2024 and on this date of hearing, no one appeared for the appellant company. The Department is represented by Smt. Sanyogita Nagpal (CIT DR).
During the hearing before the ITAT, Ld. CIT DR has pointed out that the Hon'ble National Company Law Tribunal (NCLT) has already passed an order in this case of M/s. Mohota Industries Limited on 19.5.2023 in favour of the Resolution applicant M/s. Shriniwas Spintex Industries Pvt. Limited, as the Resolution Applicant’s extensive experience in this field is more than eight years. The details of liquidation value of the corporate applicant, constitution of Committee of Creditors, treatment of secured and unsecured financial creditors etc. were extensively dealt with in the order of Hon'ble NCLT Court-V, Mumbai
2 Mohota Industries Limited
Bench in I.A. No. 1496 of 2023 in CP (IB) No. 66 of 2020. The Hon'ble NCLT order was passed by Hon'ble Shri Kuldip Kumar Kareer, Member (Judicial) and Hon'ble Smt. Anuradha Sanjay Bhatia, Member (Technical). As the order was already passed by Hon'ble NCLT on the date of appeal in favour of M/s. Shriniwas Spintex Industries Pvt. Limited, the present appeal has to be filed by that Resolution applicant only and not by the Director of Mohota Industries Limited. M/s. Mohota Industries Ltd. has become functus officio on the date of filing of the appeal before the ITAT. Hence, the appeal filed by the director of Mohota Industries Ltd. is dismissed as they are no more authorised to file these appeals.
The appeals, are dismissed as non-maintainable and liberty is given to the new management to file an appeal, if they are interested, after following due process of law.
Both the appeals are dismissed.
Order pronounced in the open court on 30th October, 2024.
Sd/- Sd/- (Narender Kumar Choudhry) (Omkareshwar Chidara) Judicial Member Accountant Member
Mumbai : 30.10.2024 Copy of the Order forwarded to : 1. The Appellant 2. The Respondent 3. The CIT(A) 4. CIT 5. DR, ITAT, Mumbai. 6. Guard File. BY ORDER, //True Copy// (Assistant Registrar) PS ITAT, Mumbai
