Company insolvent. NCLT approved Resolution Plan vide order ...

NCLT-approved Resolution Plan extinguishes past dues, bars reassessment.

January 15, 2025

Case Laws Income Tax HC

Company insolvent. NCLT approved Resolution Plan vide order 20.06.2022, upheld by NCLAT dismissing respondent-Authority's appeal on 21.05.2024. Per Ghanashyam Mishra [2021 (4) TMI 613 - SC], once NCLT approves Resolution Plan, all past dues extinguished, respondent-Authority cannot reopen assessment. NCLAT's dismissal order merged with NCLT's approval order, achieving finality u/s 62, IBC. Impugned notice u/s 148 quashed, untenable.

View Source

← Previous Next →

Company insolvent. NCLT approved Resolution Plan vide order ...

NCLT-approved Resolution Plan extinguishes past dues, bars reassessment.

January 15, 2025

Case Laws Income Tax HC

You may also like:

Recovery of excise duty, which got extinguished on approval of resolution plan - Section 31(1) of the IBC, 2016 mandates that the resolution plan approved by the NCLT...

The resolution plan approved by the NCLT on 20th March, 2023, extinguished all claims, including statutory dues owed to the Central Government, that were not...

The case pertains to the extinguishment of claims under the Insolvency and Bankruptcy Code (IBC) against Ruchi Soya Industries Limited, after the acceptance of the...

The High Court held that the Execution Application filed by the Applicant against the Respondent does not survive due to the approved Resolution Plan under the...

Once a resolution plan is approved u/s 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), only the debts specified in the resolution plan remain payable. This...

The High Court examined the issue of liability to clear statutory dues post-insolvency proceedings under the Insolvency and Bankruptcy Code 2016. The resolution plan...

The appellant's claim for Rs. 9.21 crores, arising from the termination of an agreement due to non-renewal of a performance bank guarantee, was not considered by the...

The High Court held that once a resolution plan is approved u/s 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), only the debts specified in the resolution plan...

Rejection of claim of the Applicant - It has been made abundantly clear that the Resolution Applicant can be made liable for the dues which are forming part of the...

Demand of KGST when the resolution plan was approved - Jurisdiction and applicability of the Insolvency and Bankruptcy Code (IBC) over statutory dues. The court...

This case deals with the extinguishment of demands due to the non-filing of claims by the revenue during the Corporate Insolvency Resolution Process (CIRP) under the...

Reassessment action initiated against company dissolved after NCLT approved Resolution Plan held invalid; not a case where NCLT moved for recall of approval order or...

Immunity to corporate debtors and their assets, upon approval of a resolution plan - jurisdiction of NCLT to release the attached properties by invoking Section 32A of...

Petition challenging maintainability of approved resolution plan dismissed. Resolution applicant made full disclosure, not barred u/s 29A. Once resolution plan approved,...

Once the resolution plan is approved under the Insolvency and Bankruptcy Code, any outstanding claims, including those under the Gujarat Value Added Tax Act for...

Quick Updates: