https://www.taxtmi.com/caselaws?id=306230 The High Court concluded that the Tax Appeal became infructuous following the NCLT's approval of the Resolution Plan under the Insolvency and Bankruptcy Code, settling claims including statutory dues at NIL value. The Resolution Plan, binding on all stakeholders, was upheld by the NCLAT. The court emphasized the binding nature of approved plans and clarified that pending legal proceedings were not automatically waived. The Tax Appeal was disposed of as infructuous, with the possibility of legal issues being revisited if raised by other creditors and succeeding before the Apex Court. en-us Thu, 16 Dec 2021 00:00:00 +0530 Tue, 17 Jan 2023 20:53:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306230 The High Court concluded that the Tax Appeal became infructuous following the NCLT's approval of the Resolution Plan under the Insolvency and Bankruptcy Code, settling claims including statutory dues at NIL value. The Resolution Plan, binding on all stakeholders, was upheld by the NCLAT. The court emphasized the binding nature of approved plans and clarified that pending legal proceedings were not automatically waived. The Tax Appeal was disposed of as infructuous, with the possibility of legal issues being revisited if raised by other creditors and succeeding before the Apex Court. Case-Laws Insolvency and Bankruptcy Thu, 16 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306230