Claims Before Approval of Resolution Plan Extinguished on Approval of Plan u/s 31 of IBC: Orissa HC [Read Order]
The court held that the resolution plan was approved on June 22, 2018 extinguished all liabilities predating the date of approval of resolution plan therefore the claims of the state with respect to the period prior to the approval date cannot be entertained
The Orissa High Court held that claims before approval of resolution plan were extinguished on approval of plan under section 31 of the Insolvency and Bankruptcy Code ( IBC ), 2016. The court held that the resolution plan was approved on June 22, 2018 extinguished all liabilities predating the date of approval of resolution plan…
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