# In the matter of Lakshmi Precisions Screws Ltd. CA No. 976-2019 & IA No. 750-2022 In CP (IB) No. 155-Chd-Hry-2018

> NCLT judgment dated 2023-02-06. Citation: TCN-2023-NCLT-04768. The case involves an application by the Excise and Taxation Commissioner, Haryana, seeking…

- **Court:** NCLT
- **Order date:** 6 Feb 2023
- **Citation:** TCN-2023-NCLT-04768
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/lakshmi-precisions-screws-ltd-ca-no-976-2019-ia-no-750-2022-in-cp-ib-no-155-chd-1691da26

## Summary

### Background

The case involves an application by the Excise and Taxation Commissioner, Haryana, seeking acceptance of a claim regarding tax assessment for the financial years 2016-17 and 2017-18, and challenging the resolution plan approved by the Committee of Creditors (CoC). Additionally, HSIIDC Ltd. filed an application seeking directions to the Resolution Professional to accept objections regarding the resolution plan and payment of the enhanced cost of a demised plot. The corporate debtor, Lakshmi Precisions Screws Ltd., entered into CIRP on 2018-07-18. The Excise and Taxation Department's claim was initially accepted by the RP but later deemed outside the RP's jurisdiction due to CoC approval of the resolution plan. HSIIDC's claim relates to non-payment of enhanced land

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## Facts

The Excise and Taxation Commissioner, Haryana, filed an application seeking acceptance of a claim for tax assessment for the financial years 2016-17 and 2017-18. The Corporate Debtor, Lakshmi Precisions Screws Ltd., entered into CIRP on 2018-07-18. The RP was appointed on the same date. The last date for submission of claims was 2018-08-06. The Applicant Department filed its claim for Unit II regarding the amount of tax due after framing of assessment upto the Financial Year 2014-15 and 'estimated claim' for 2015-16, 2016-17 and 2017-18 as pending assessment amounting to Rs.4,65,61,555/- in Form B. The claim was duly accepted by the RP. The Applicant filed its revised claim before RP against Corporate Debtor, Unit I in Form B dated 2019-04-30 for the total outstanding

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## Issues and analysis

### Issue 1: Whether the Excise and Taxation Department is obligated to lodge a claim in respect of statutory …

**Ratio:** The Supreme Court in State Tax Officer Vs. Rainbow Papers Limited held that the Excise

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**Reasoning:** The court relied on the Supreme Court's decision and Section 26 of the Haryana Value

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**Interpretation:** The interpretation is that statutory dues, especially those secured by law, do

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**Application:** The court applied this principle to the present case, stating that the Excise

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## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Appellants:** Excise and…
- **Respondents:** Lakshmi Precisions…; Deepak Th…

## Timeline

- **2018-07-18 — CIRP Init…**: Corporate Debtor…
- **2018-07-18 — RP Appoin…**: Resolution Professional…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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