Supreme Court of India
Vaibhav Goel & Anr. v. Deputy Commissioner of Income Tax & Anr.
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What the Court ordered
In view of the above discussion, the Resolution Plan approved on 21st May 2019 is binding on the first respondent.
Judgment, page 8
From the headnote
Issue for Consideration Matter pertains to the validity of the income tax dues of the corporate debtor owed to the Central Government, when not a part of the approved Resolution Plan. Headnotes† Insolvency and Bankruptcy Code, 2016 – s.31(1) – Legal effect of approval of a Resolution Plan – After approval of resolution plan, issuance of demand notices by the Income Tax Department for assessment years 2012-13 and 2013-14 in respect of the Corporate Debtor-CD, however no claim about the demands submitted before the Resolution Professional – Application by the second respondent-Monitoring
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