The claims which had not been filed cannot be agitated after the approval of the Resolution Plan – Ruchi Soya Industries Ltd. Vs. Assistant Commissioner of Income Tax Central Circle 7 (2) & Anr – NCLT Mumbai Bench
Applicant submits that the Impugned Notices are in respect of initiation of proceedings by the Respondent Department related to a period which is prior to the date of the approval of the Resolution Plan. Thus, on approval of the Resolution Plan, all claims prior to the date of approval stand extinguished i.e. all claims that had been filed shall stand extinguished in the manner in which they had been dealt with in the Resolution Plan and the claims which had not been filed cannot be agitated after the approval of the Resolution Plan. The Adjudicating Authority set aside impugned Notice.