Interest can't be charged post-CIRP if amount frozen by IBC moratorium & not in approved plan. Excluded claims extinguished.

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Full Text of the Document

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....Interest u/ss 234A, 234B, and 234C cannot be charged post Corporate Insolvency Resolution Process when the amount has been frozen by moratorium under IBC and not part of the approved Resolution Plan. Claims not included in the Resolution Plan stand extinguished, and no proceedings can be initiated for such claims. The order charging interest and the consequent demand notice were quashed, and the petitioner is entitled to a refund of the amount paid for the relevant assessment year.....