Tax liabilities not part of Resolution Plan stand extinguished from date of approval of Plan

Taguda Pte. Limited Vs Subodh Kumar Agrawal (NCLT Mumbai) NCLT held that all the past liabilities arising out of any levies/tax dues to any government authorities, etc. which are not part of the Resolution Plan and pertaining to Corporate Insolvency Process period shall stand extinguished from the date of approval of the Resolution Plan. FULL TEXT OF THE NCLT JUDGMENT/ORDER 1. It is an IA/887/2022 filed by the Taguda Pte. Limited (Resolution Applicant) under section 60(5) of Insolvency and Bankruptcy Code, 2016 read with Rule 11 of NCLT Rules, 2016, against Subodh Kumar Agrawal, RP of Ushdev ...