# In the matter of Technovaa Plastic Industries Pvt. Ltd. vs. Assistant Commissioner of Income Tax and Ors.

> HC judgment dated 2025-04-09. Citation: TCN-2025-HC-00021. The case involves a writ petition filed by Technovaa Plastic Industries Pvt. Ltd. against the…

- **Court:** HC
- **Order date:** 9 Apr 2025
- **Citation:** TCN-2025-HC-00021
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/technovaa-plastic-industries-pvt-ltd-vs-assistant-commissioner-of-income-tax-and-8ab336f3

## Summary

### Background

The case involves a writ petition filed by Technovaa Plastic Industries Pvt. Ltd. against the Assistant Commissioner of Income Tax and others, challenging demand notices issued by the respondents for a period prior to 04.09.2020. The petitioner had undergone Corporate Insolvency Resolution Process (CIRP) initiated by Rassendra Chem Export Private Limited, an operational creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The National Company Law Tribunal (NCLT) admitted the application on 12.11.2018, imposed a moratorium, and initiated CIRP. A resolution plan submitted by Kankriya Enterprises Private Limited was approved by the Committee of Creditors (CoC) and subsequently by the NCLT on 04.09.2020. The petitioner contends that the demand

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## Facts

Technovaa Plastic Industries Pvt. Ltd. (the Petitioner) is engaged in the business of manufacturing plastic film. Rassendra Chem Export Private Limited, acting as an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against the Petitioner by filing an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The National Company Law Tribunal (NCLT) admitted the application on 12.11.2018, imposed a moratorium, and initiated CIRP. Mr. Narayan Gajanan Vidvan was appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Vijay P. Lulla as the Resolution Professional (RP). The RP issued an invitation for Expression of Interest (EOI), and a resolution plan submitted by Kankriya Enterprises Private Limited

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## Issues and analysis

### Issue 1: Whether the demand notices issued by the Income Tax Department for the period prior to the approval …

**Ratio:** The legal principle applied is that once a resolution plan is duly approved by the

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**Reasoning:** The court reasoned that allowing claims not included in the resolution plan would

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**Interpretation:** Section 31 of the IBC, as interpreted by the Supreme Court in Ghanshyam Mishra,

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**Application:** In this case, the demand notices issued by the Income Tax Department pertained

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## Parties

- **Judges:** BHARGAV D.…; D.N.…
- **Respondents:** Technovaa Plastic…; ASSISTANT…
- **Other parties:** Kohi…

## Timeline

- **2018-11-12 — NCLT Admits Ap…**: The NCLT admitted the application filed by Rassendra Chem Export Private Limited and…
- **2018-12-07 — Committee of Creditors…**: The Committee of Creditors (CoC) was constituted, consisting of Bank of Baroda as the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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