# In the matter of Superintendent of Stamps & Inspector General of Registration vs. Avil Menezes Resolution Professional of AMW Autocomponent Limited

> NCLAT judgment dated 2024-05-20. Citation: TCN-2024-NCLAT-00422. The appeal was filed by the Superintendent of Stamps & Inspector General of Registration…

- **Court:** NCLAT
- **Order date:** 20 May 2024
- **Citation:** TCN-2024-NCLAT-00422
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/superintendent-of-stamps-inspector-general-of-registration-vs-avil-menezes-resol-3a4294d8

## Summary

### Background

The appeal was filed by the Superintendent of Stamps & Inspector General of Registration against the Impugned Order dated 12.10.2023 passed by the National Company Law Tribunal, Ahmedabad Bench. The appellant claimed that stamp duty and penalty of Rs. 15,38,79,179/- was due, but only Rs. 2,65,00,000/- was provided in the Resolution Plan. The appellant argued that the Adjudicating Authority failed to consider the demerger approved by the Gujarat High Court and that the stamp duty was a statutory duty. The respondent, Avil Menezes, is the Resolution Professional of the Corporate Debtor. The appellant also filed an Interlocutory Application bearing I.A. No. 1092 of 2023 before the Adjudicating Authority in CP (IB) No. 185 of 2019 seeking declaration to the effect that

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## Facts

The Superintendent of Stamps & Inspector General of Registration filed an appeal against the Impugned Order dated 12.10.2023 passed by the National Company Law Tribunal, Ahmedabad Bench. The appellant claimed Rs. 15,38,79,179/- as stamp duty and penalty, but only Rs. 2,65,00,000/- was provided in the Resolution Plan. The appellant is a statutory body of the Government of Gujarat. The claim was based on a demerger approved by the Gujarat High Court on 29.08.2012. The Corporate Debtor challenged the opinion of Collector vide Special Civil Application No. 14182 of 2013 before the Hon'ble Gujarat High Court and the Hon'ble High Court granted interim relief on 12.09.2013 and subsequently this application was withdrawn on 27.01.2020. Indian Overseas Bank initiated CIRP

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in approving the Resolution Plan without fully considering …

**Ratio:** Once a resolution plan is duly approved by the Adjudicating Authority under subsection

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**Reasoning:** The court reasoned that the Resolution Plan was approved by the Adjudicating Authority

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**Interpretation:** This legal issue concerns the extent to which the Adjudicating Authority must

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**Application:** The court applied the ratio to the facts of the case, noting that the

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## Parties

- **Judges:** Rakesh Kuma…; Naresh Sa…; +1 more
- **Appellants:** Superintendent of…
- **Respondents:** AMW Autocomponent…; Avil Menezes…

## Timeline

- **2012-08-29 — Demerger Ap…**: The demerger of the companies was…
- **2013-07-29 — Opinion by Stamp Duty…**: The Corporate Debtor sought an opinion from the relevant stamp duty authority, who gave…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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