https://www.taxtmi.com/caselaws?id=424688 The court held that the demands created under the assessment orders and notices cannot be recovered from the petitioners post approval of the resolution plan under the Insolvency and Bankruptcy Code. The resolution plan binds all creditors, including statutory creditors, extinguishing claims not part of the plan. The court left open the issue of unjust enrichment for future adjudication. The retrospective application of the 2019 amendment to Section 31 of the IBC, making the resolution plan binding on government entities, was upheld. The demands under the assessment orders and notices were not recoverable, following the Supreme Court precedent. en-us Mon, 04 Jul 2022 00:00:00 +0530 Wed, 06 Jul 2022 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424688 The court held that the demands created under the assessment orders and notices cannot be recovered from the petitioners post approval of the resolution plan under the Insolvency and Bankruptcy Code. The resolution plan binds all creditors, including statutory creditors, extinguishing claims not part of the plan. The court left open the issue of unjust enrichment for future adjudication. The retrospective application of the 2019 amendment to Section 31 of the IBC, making the resolution plan binding on government entities, was upheld. The demands under the assessment orders and notices were not recoverable, following the Supreme Court precedent. Case-Laws Insolvency and Bankruptcy Mon, 04 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424688