The Madras High Court took note of the petitioner’s payment of statutory pre-deposit and directed an additional 10% of the tax amount to paid in order for their delay to be condoned.

Once a Resolution Plan is approved by the Adjudicating Authority under Section 31(1) of the Insolvency and Bankruptcy Code, 2016, no one can start or continue proceedings for claims not included in the plan.

Read on to know the recent AAR and AAAR matters covered at taxscan.in.