https://www.taxtmi.com/caselaws?id=441508 The Gujarat High Court ruled in favor of the petitioner, quashing the impugned assessment orders, assessment notices, and demand notices. The court held that claims of creditors, including statutory operational creditors, would stand extinguished upon approval of the Resolution Plan. The Resolution Plan was deemed binding on all stakeholders, including government authorities, and no further claims could be made post-approval. The court emphasized that the IBC prevails over other laws in case of inconsistency. en-us Wed, 02 Aug 2023 00:00:00 +0530 Wed, 09 Aug 2023 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441508 The Gujarat High Court ruled in favor of the petitioner, quashing the impugned assessment orders, assessment notices, and demand notices. The court held that claims of creditors, including statutory operational creditors, would stand extinguished upon approval of the Resolution Plan. The Resolution Plan was deemed binding on all stakeholders, including government authorities, and no further claims could be made post-approval. The court emphasized that the IBC prevails over other laws in case of inconsistency. Case-Laws Insolvency and Bankruptcy Wed, 02 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441508