https://www.taxtmi.com/caselaws?id=310680 HC held that once a resolution plan is approved under IBC Section 30(2), it binds all creditors and no fresh claims can be raised for periods covered by the plan. Following SC precedent in Essar Steel case, the court ruled that allowing post-approval claims would create uncertainty for resolution applicants. The water authority's demand for outstanding dues covering the pre-approval period (December 2009 to November 2017) was unsustainable. Authorities were directed to revise demands limiting them to post-approval period and issue show cause notice before finalizing any dues. en-us Mon, 21 Jun 2021 00:00:00 +0530 Mon, 06 Nov 2023 18:56:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310680 HC held that once a resolution plan is approved under IBC Section 30(2), it binds all creditors and no fresh claims can be raised for periods covered by the plan. Following SC precedent in Essar Steel case, the court ruled that allowing post-approval claims would create uncertainty for resolution applicants. The water authority's demand for outstanding dues covering the pre-approval period (December 2009 to November 2017) was unsustainable. Authorities were directed to revise demands limiting them to post-approval period and issue show cause notice before finalizing any dues. Case-Laws Insolvency and Bankruptcy Mon, 21 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310680