No claim after approval of Resolution Plan even a show-cause notice issued prior to initiation of CIRP – Bhushan Power and Steel Ltd. Vs. Union of India – Delhi High Court
This writ petition is directed against the Order-in-Original dated 27.07.2020, passed by the respondent no. 3 i.e., Additional Director General (Adjudication) Directorate of Revenue Intelligence (DRI). The petitioner, Bhushan Power and Steel Ltd. is aggrieved that even though a resolution plan has received the approval of the NCLT, Delhi Bench, by virtue of the impugned order, a demand has been foisted on the petitioner. The transactions in issue, qua which demand has been raised by the respondents/revenue concerns the Financial Year (FY) 2013-2014. Respondent no.3 had issued a show-cause notice on 01.06.2016.
