Claim submitted Post Approval of Resolution Plan by CoC not liable to be Admitted: NCLAT [Read Order]
Claim submitted post approval of resolution plan by CoC not liable to be admitted, rules NCLAT
NCLAT – Resolution Plan – Committee of Creditors – NCLAT Delhi – Resolution plan approval – taxscan
NCLAT – Resolution Plan – Committee of Creditors – NCLAT Delhi – Resolution plan approval – taxscan
The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) ruled that the claim submitted post approval of the resolution plan by the Committee of Creditors ( CoC ) is not liable to be admitted.
In the CIRP of the Corporate Debtor, public announcement was made on 15.05.2022 and last date for submission of claim was 26.05.2022. Appellant lodged its claim on 06.02.2023. The Resolution Professional refused to admit the claim informing that the application for approval of Resolution Plan has already been filed before the Adjudicating Authority on 03.02.2023.
A Three Member Bench comprising Justice Ashok Bhushan, Chairperson, Barun Mitra, Member ( Technical ) and Arun Baroka, Member ( Technical ) observed that “The aforesaid clearly indicate that the resolution plan was approved by the CoC prior to 03.02.2023 and the claim which was filed by the Appellant was subsequent to approval of the plan by the CoC.”
“When the plan was already approved by the CoC, we are of the view that no error has been committed by the Resolution Professional in refusing to admit the claim. The Adjudicating Authority has rightly rejected I.A. No.1219 of 2023 filed by the Appellant. There is no merit in the Appeal” the Bench added.
To Read the full text of the Order CLICK HERE
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