https://www.taxtmi.com/caselaws?id=769493 NCLAT dismissed appeal challenging rejection of Section 7 application seeking refund of liquidated damages deducted during CIRP. Corporate debtor's resolution applicant claimed damages should be refunded post-resolution plan approval, arguing claims were extinguished. NCLAT held liquidated damages already deducted from invoices per contract terms during CIRP cannot be refunded despite resolution plan approval. Extinguishment of claims under approved resolution plan does not affect damages previously deducted as per contractual obligations. Adjudicating Authority correctly rejected refund application. en-us Wed, 23 Apr 2025 00:00:00 +0530 Sat, 26 Apr 2025 08:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769493 NCLAT dismissed appeal challenging rejection of Section 7 application seeking refund of liquidated damages deducted during CIRP. Corporate debtor's resolution applicant claimed damages should be refunded post-resolution plan approval, arguing claims were extinguished. NCLAT held liquidated damages already deducted from invoices per contract terms during CIRP cannot be refunded despite resolution plan approval. Extinguishment of claims under approved resolution plan does not affect damages previously deducted as per contractual obligations. Adjudicating Authority correctly rejected refund application. Case-Laws IBC Wed, 23 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769493