Company's Post-CIRP Customs Duty Drawback Claims Extinguished Under IBC Section 31A Due to Non-Inclusion in Resolution Plan

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....HC quashed customs duty drawback demand raised against a company post-CIRP acquisition. During CIRP moratorium, respondents failed to lodge drawback claims under Customs Act 1962 and Drawback Rules 2017. Since claims were not included in approved resolution plan, they stand extinguished per Sec 31A of IBC. Following Supreme Court precedent in Ghanashyam case, court held that claims brought during moratorium after adjudicating authority recorded claims are waived. Alternative remedy of appeal not required as legal position is well-settled that post-resolution plan approval, unincluded claims cannot be entertained. Petition allowed.....