https://www.taxtmi.com/caselaws?id=773481 CESTAT Chennai held that a corporate debtor cannot pursue refund claims after approval of a resolution plan under IBC. The tribunal relied on SC precedents in Ghanashyam Mishra and Swiss Ribbons, ruling that once a resolution plan is approved under Section 31(1) of IBC, the original corporate debtor's identity ceases to exist along with its statutory liabilities. The court emphasized that allowing such claims would discourage bonafide successors and undermine IBC objectives. The appeal was dismissed as not entertainable, establishing that litigation rights do not survive resolution plan approval regardless of whether claims involve demands or refunds. en-us Fri, 20 Jun 2025 00:00:00 +0530 Sat, 21 Jun 2025 11:56:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773481 CESTAT Chennai held that a corporate debtor cannot pursue refund claims after approval of a resolution plan under IBC. The tribunal relied on SC precedents in Ghanashyam Mishra and Swiss Ribbons, ruling that once a resolution plan is approved under Section 31(1) of IBC, the original corporate debtor's identity ceases to exist along with its statutory liabilities. The court emphasized that allowing such claims would discourage bonafide successors and undermine IBC objectives. The appeal was dismissed as not entertainable, establishing that litigation rights do not survive resolution plan approval regardless of whether claims involve demands or refunds. Case-Laws Service Tax Fri, 20 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773481