https://www.taxtmi.com/caselaws?id=764625 Gujarat HC held that once a resolution plan is approved under Section 31(1) of IBC, all claims not categorically included in the plan are extinguished. Following SC precedent in Edelweiss case, the court ruled that customs authorities cannot levy new duties, interest, or penalties after resolution plan approval. The IBC provisions override other laws including Customs Act regarding extinguished claims. Appeal was allowed, confirming that only claims specifically approved in the resolution plan survive post-approval. en-us Thu, 09 Jan 2025 00:00:00 +0530 Tue, 14 Jan 2025 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764625 Gujarat HC held that once a resolution plan is approved under Section 31(1) of IBC, all claims not categorically included in the plan are extinguished. Following SC precedent in Edelweiss case, the court ruled that customs authorities cannot levy new duties, interest, or penalties after resolution plan approval. The IBC provisions override other laws including Customs Act regarding extinguished claims. Appeal was allowed, confirming that only claims specifically approved in the resolution plan survive post-approval. Case-Laws Customs Thu, 09 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764625