On approval of resolution plan pre-deposits for filing appeal become refundable with interest

UltraTech Nathdwara Cement Limited Vs Commercial Taxes Officer (Rajasthan High Court) In terms of Section 31 of the Insolvency and Bankruptcy Code, 2013, the resolution plan, approved by the NCLAT, is binding on all stakeholders including the Operational Creditors, Financial Creditors and the Statutory Creditors, including the respondent Corporate Taxes Department and all claims and dues towards the pending demands, except those approved by the NCLAT, of these creditors stand discharged on the date of transfer of the Corporate Debtor unit to the Successful Resolution Applicant which, in the p...