https://www.taxtmi.com/caselaws?id=768017 Approval of a resolution plan under the Insolvency and Bankruptcy Code freezes covered claims and binds all stakeholders, including governmental authorities. Statutory dues relating to the period before approval that are not included in the plan stand extinguished, and recovery or demand proceedings for those pre-approval dues cannot be continued against the successful resolution applicant. The Code's overriding effect supports a clean slate for the applicant. Continued pursuit of such demands after the plan's binding effect was brought to notice was treated as contemptuous in nature, though the apology was accepted and no punitive action was taken. The impugned demand notices and related recovery proceedings were quashed. en-us Thu, 27 Mar 2025 00:00:00 +0530 Sat, 29 Mar 2025 08:15:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768017 Approval of a resolution plan under the Insolvency and Bankruptcy Code freezes covered claims and binds all stakeholders, including governmental authorities. Statutory dues relating to the period before approval that are not included in the plan stand extinguished, and recovery or demand proceedings for those pre-approval dues cannot be continued against the successful resolution applicant. The Code's overriding effect supports a clean slate for the applicant. Continued pursuit of such demands after the plan's binding effect was brought to notice was treated as contemptuous in nature, though the apology was accepted and no punitive action was taken. The impugned demand notices and related recovery proceedings were quashed. Case-Laws IBC Thu, 27 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768017