Claims and dues not included in the resolution plan approved by the NCLT stand extinguished
Last updated: 31 December 2025
Court :
GSTAT Delhi
Brief :
The GSTAT Delhi in the case of DGAP v. Puma Realtors Pvt Ltd, [NAPA/84/PB/2025, order dated August 26, 2025], held that once a resolution plan is approved by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC), 2016, all claims and dues not included in the resolution plan stand extinguished, and consequently, the Resolution Applicant cannot be held liable for unquantified Input Tax Credit (ITC) benefits not passed on by the previous entity under Section 171 of the CGST Act, 2017. The anti-profiteering proceedings against Puma Realtors Pvt Ltd were therefore closed.
Citation :
NAPA/84/PB/2025, order dated August 26, 2025
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Bimal Jain
Published in GST
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