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2024 (2) TMI 906 - CESTAT CHENNAIRecovery of excise duty, which got extinguished on approval of resolution plan - HELD THAT:- The NCLT, Chennai has approved Resolution Plan vide its order No.25/27-June 2019. The Hon'ble Supreme Court in the case of GHANASHYAM MISHRA AND SONS PRIVATE LIMITED THROUGH THE AUTHORIZED SIGNATORY VERSUS EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED THROUGH THE DIRECTOR & ORS. [2021 (4) TMI 613 - SUPREME COURT] has held that all dues including the statutory dues owed to the Central Government any State Government or any local authority including tax authorities, if not part of the resolution plan, shall stand extinguished and no proceedings in respect of such dues for the period prior to the date on which the adjudicating authority grants its’ approval under Section 31 of IBC can be continued. It is also stated that the Department has not made any claim before the Corporate Insolvency Resolution Process in respect of the demands arising out of the orders impugned in these three appeals. Since the Resolution Plan has been approved, as per para 8 of the Resolution Plan, all claims shall stand irrevocably and unconditionally settled, discharged and extinguished in perpetuity. Appeal dismissed.
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