Creditors Approve Insolvency Plan Allocating Rs. 45 Crores for SEZ Customs Duties and Penalties, Excluding Extra Interest.

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....Resolution of Corporate Insolvency approved by the Committee of Creditors - Claim of Customs Duty and other dues after de-bonding / de-notification of SEZ unit - it is abundantly clear that the estimated amount of ₹ 45 Crores has been set apart in the approved Resolution Plan to take care of the duties chargeable and penalties imposable by the Development Commissioner while according approval to opting out of Corporate Debtor from SEZ. - Additional demand towards interest and penalty not sustainable - AT....