After Resolution Plan Approval, Corporates Begin Anew with Extinguished Claims

Union Of India & Anr Vs Ramswarup Lohh Udyog & Ors (Calcutta High Court) After Approval of Resolution Plan Corporate Entity Starts Fresh & All Claim gets Extinguished In the case of Union Of India & Anr vs. Ramswarup Lohh Udyog & Ors before the Calcutta High Court, the central issue revolved around the aftermath of a corporate insolvency resolution process (CIRP) and the subsequent approval of a resolution plan under the Insolvency and Bankruptcy Code, 2016 (IBC). Defendant No. 1 had merged with Defendant No. 5 in 2008 as per a previous order of the Calcutta High Court. Aft...