Topic
Delhi High Court holds that pre-CIRP customs duties not filed during insolvency are extinguished once the IBC resolution plan is approved, quashing the customs order.
The Allahabad High Court has ruled that under Section 31 of the IBC, statutory electricity dues arising before the Corporate Insolvency Resolution Process are extinguished as of the Effective Date specified in the approved resolution plan - not the date of NCLT approval. This clarifies that resolution applicants inherit liability only prospectively, reinforcing the clean slate principle and shielding them from legacy dues improperly revived post-resolution.