Implementation of the Resolution Plan and change in management ...

Case Laws Customs

May 17, 2024

Implementation of the Resolution Plan and change in management and control - Demand of customs duty - The appellant did not file any claim during the insolvency process, and as per provisions of the IBC, once a resolution plan is approved, all claims not part of the plan stand extinguished. The Court referred to relevant sections of the IBC and a Supreme Court ruling, affirming that once a resolution plan is approved, claims not included cease to exist. Consequently, the appeal was deemed abated, and the questions proposed were not answered.

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Implementation of the Resolution Plan and change in management ...

Case Laws Customs

May 17, 2024

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