https://www.taxtmi.com/caselaws?id=434167 An approved resolution plan under the Insolvency and Bankruptcy Code, 2016 gives binding effect to the plan and operates on a clean slate basis, so pre-approval claims not included in the plan stand extinguished. Applying that principle, the Delhi High Court held that customs dues relating to the pre-resolution period could not be pursued separately once the corporate insolvency resolution process plan was approved. The customs authorities' failure to file a proof of claim despite notice of the CIRP and communication from the resolution professional further defeated the demand. The Court also noted that the customs provision expressly saved the Code and rejected the forum non conveniens objection, so the show-cause notice was quashed. en-us Thu, 16 Feb 2023 00:00:00 +0530 Sat, 18 Feb 2023 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434167 An approved resolution plan under the Insolvency and Bankruptcy Code, 2016 gives binding effect to the plan and operates on a clean slate basis, so pre-approval claims not included in the plan stand extinguished. Applying that principle, the Delhi High Court held that customs dues relating to the pre-resolution period could not be pursued separately once the corporate insolvency resolution process plan was approved. The customs authorities' failure to file a proof of claim despite notice of the CIRP and communication from the resolution professional further defeated the demand. The Court also noted that the customs provision expressly saved the Code and rejected the forum non conveniens objection, so the show-cause notice was quashed. Case-Laws Customs Thu, 16 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434167