Ruchi Soya (Patanjali), Claims Omitted from Approved Resolution Plan Deemed Extinguished: Karnataka High Court
In a significant judgment delivered by the Karnataka High Court on September 30, 2024, the court addressed a crucial issue involving customs duty and insolvency proceedings concerning Patanjali Foods Limited, formerly known as Ruchi Soya Industries Ltd. This case sheds light on the interplay between the Customs Act 1962 and the Insolvency and Bankruptcy Code (IBC). Case Background Patanjali Foods Limited, which has its registered office in Mumbai, filed an…
