Relation between Resolution Plan and Statutory Dues of the Corporate Debtor
The Supreme court of India vide its order dated 06.09.2022 in the case of State Tax Officer v. Rainbow Papers Ltd. (2022 SCC OnLine SC 1162) held that the statutory dues owed by Corporate Debtor cannot be waived off through the approval of Resolution Plan by Committee of Creditors (CoC) under the Insolvency and Bankruptcy Code, 2016 (IBC).
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