Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
Approval of a resolution plan under the IBC extinguishes claims not included in the plan, including statutory dues, and the successful resolution applicant acquires the corporate debtor on a clean slate. Applying that principle, the Court found that demand and recovery notices based on liabilities arising before approval of the resolution plan could not be enforced after approval. The impugned notices, being outside the plan, were unsustainable insofar as they sought to recover pre-resolution dues and were set aside.
Approval of a resolution plan under the IBC extinguishes claims not included in the plan, including statutory dues, and the successful resolution applicant acquires the corporate debtor on a clean slate. Applying that principle, the Court found that demand and recovery notices based on liabilities arising before approval of the resolution plan could not be enforced after approval. The impugned notices, being outside the plan, were unsustainable insofar as they sought to recover pre-resolution dues and were set aside.
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