Corporate debtor cannot pursue refund claims after resolution plan approval under Section 31(1) IBC

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....CESTAT dismissed the appeal filed by the corporate debtor seeking refund claims post-approval of resolution plan under IBC. The tribunal held that once a resolution plan is approved under Section 31(1) of IBC, the original corporate debtor's identity ceases to exist, and it cannot pursue any litigation including refund claims. Relying on Supreme Court precedents in Ghanashyam Mishra and Swiss Ribbons, CESTAT ruled that allowing such claims would discourage bona fide successors and undermine IBC objectives. The tribunal emphasized that corporate debtor's status remains unchanged whether appeal concerns demand or refund - no litigation can be initiated or continued post-resolution plan approval. The appeal was found without merit and declared non-entertainable.....