Duty drawback demand post approval of resolution plan not tenable: Bombay HC

Karthik Alloys Limited Vs Union of India (Bombay High Court) Bombay High Court held that demand in respect of the duty drawbacks post approval of resolution plan is liable to be waived off in terms of section 31A of the Insolvency and Bankruptcy Code, 2016. Accordingly, writ stand allowed. Facts- Post CIRP of the petitioner, the Assistant Commissioner of Customs, Goa (Respondent No.2) issued an order dated 21.10.2024 directing the petitioner to pay an amount of Rs. 10,01,724/- as duty drawbacks u/s. 75(1) of the Customs Act, 1962 along with interest u/s. 75A (2) read with rule 18(2) of the Cus...