https://www.taxtmi.com/caselaws?id=405229 The Tribunal ruled in favor of the Resolution Applicant, stating that additional dues claimed by Maharashtra Industrial Development Corporation (MIDC) post-approval of the Resolution Plan, including renewal and transfer fees, were not enforceable as they were not submitted during the appropriate stage. The Tribunal affirmed its jurisdiction to decide on post-CIRP claims under the Insolvency and Bankruptcy Code. It deemed MIDC's demand for renewal and transfer fees invalid, emphasizing that the change in shareholding did not constitute a transfer of leasehold rights. The Tribunal held that the approved Resolution Plan binds statutory authorities like MIDC, and rejected MIDC's claims for amounts beyond what was specified in the Plan. en-us Tue, 09 Mar 2021 00:00:00 +0530 Mon, 15 Mar 2021 10:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405229 The Tribunal ruled in favor of the Resolution Applicant, stating that additional dues claimed by Maharashtra Industrial Development Corporation (MIDC) post-approval of the Resolution Plan, including renewal and transfer fees, were not enforceable as they were not submitted during the appropriate stage. The Tribunal affirmed its jurisdiction to decide on post-CIRP claims under the Insolvency and Bankruptcy Code. It deemed MIDC's demand for renewal and transfer fees invalid, emphasizing that the change in shareholding did not constitute a transfer of leasehold rights. The Tribunal held that the approved Resolution Plan binds statutory authorities like MIDC, and rejected MIDC's claims for amounts beyond what was specified in the Plan. Case-Laws Insolvency and Bankruptcy Tue, 09 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405229