NCLAT Delhi: Claims Cannot Be Entertained After Approval Of Resolution Plan By CoC Even If Resolution Plan Is Still Pending For Approval By NCLT
Live LawThe National Company Law Appellate Tribunal, Delhi Bench, comprising of Justice Ashok Bhushan, Mr Barun Mitra and Mr. Arun Baroka has rejected an appeal and held that claims cannot be entertained after approval of the Resolution Plan by Committee of Creditors even if the Resolution Plan is still pending for approval of the National Company Law Tribunal. Contentions of Appellant The Appellant argued that since the Application for approval of the Resolution Plan is still pending before the NCLT, the claim of the Appellant can be considered. Contentions of Respondent The Respondent opposed the submissions and argued that since the Resolution Plan had already been approved by the CoC, no new fresh claim could be filed by the Appellant. NCLT Verdict The NCLAT rejected the appeal and held that claims cannot be entertained after approval of the Resolution Plan by the CoC even if the Resolution Plan is still pending for approval of the NCLT.