Resolution Applicant Not Liable for Customs Duty Recovery; Approved Plan Binds All, Including Government Per Section 31(1.

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Full Text of the Document

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....Recovery of duty of Customs from the successful Resolution Applicant - Orders of finalization of bills of entry of the Superintendent - the judgment of the Jharkhand High Court in the case of Essar Steel Limited is of no avail to the Department. - a resolution plan, once approved, is binding on all the creditors and stakeholders including the Central Government by virtue of Section 31(1) of the Code. - HC....