https://www.taxtmi.com/caselaws?id=373762 A sanctioned rehabilitation scheme treated as an approved resolution plan was held binding in its terms, including waiver of penal interest, compound interest and similar charges up to the sanction date; the later recovery order was therefore not sustainable against the applicant-company. The order of de-registration was read as preserving implementation of the unimplemented portion of the sanctioned scheme, so the respondent-board could not recover electricity dues inconsistently with that scheme. By contrast, the claim for refund of the deposited sum failed because the amount was paid pursuant to an undertaking during appeal proceedings to secure restoration of power supply, and the record did not show payment under protest. The disposal was thus partly in favour of the applicant-company. en-us Tue, 27 Nov 2018 00:00:00 +0530 Sat, 19 Jan 2019 07:55:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373762 A sanctioned rehabilitation scheme treated as an approved resolution plan was held binding in its terms, including waiver of penal interest, compound interest and similar charges up to the sanction date; the later recovery order was therefore not sustainable against the applicant-company. The order of de-registration was read as preserving implementation of the unimplemented portion of the sanctioned scheme, so the respondent-board could not recover electricity dues inconsistently with that scheme. By contrast, the claim for refund of the deposited sum failed because the amount was paid pursuant to an undertaking during appeal proceedings to secure restoration of power supply, and the record did not show payment under protest. The disposal was thus partly in favour of the applicant-company. Case-Laws Companies Law Tue, 27 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373762