{"id":297687,"date":"2023-07-26T12:30:51","date_gmt":"2023-07-26T07:00:51","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=297687"},"modified":"2023-07-26T12:34:04","modified_gmt":"2023-07-26T07:04:04","slug":"irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/","title":{"rendered":"In project wise insolvency, IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor: NCLAT"},"content":{"rendered":"
\n

National Company Law Appellate Tribunal, Chennai:<\/b> While upholding the NCLT’s order, a Division bench comprising of M. Venugopal, J., and Ms. Shreesha Merla (Technical Member), held that in Project Wise Insolvency, the Interim Resolution Professional\/Resolution Professional (IRP\/RP) cannot seek any unpaid Fees\/Costs from the members of the Committee of Creditors (CoCs) of another project of the Corporate Debtor.<\/p>\n

Factual Matrix<\/b><\/p>\n

In the instant matter, NCLT directed for the initiation of CIRP against the Corporate Debtor, Dreamz Infra India Ltd. on a ‘Project Wise Basis’ and appointed the appellant as Resolution Professional (RP).<\/p>\n

The appellant preferred an application before the NCLT seeking to intervene on the ground that the CIRP cost for a prior matter in which the appellant was appointed as the RP remained unpaid. The NCLT vide order dated 07-10-2022 dismissed the said application.<\/p>\n

Aggrieved by the impugned order dated 07-10-2022, the appellant preferred present appeal before the NCLAT to challenge the same. The appellant also preferred an application seeking condonation of delay of 145 days in filing the present appeal and further condones 42 days in preferring the present appeal.<\/p>\n

Moot Point<\/b><\/p>\n

Whether IRP\/RP be paid for a project separate than for which they were appointed as IRP\/RP?<\/p>\n

NCLAT’s Observation<\/b><\/p>\n

The NCLAT opined that the reason cited by the appellant for delay in preferring the present appeal, i.e., “delay in sending the reminder for obtaining the certified copy”<\/b>, is satisfactory, therefore, in the interest of justice the present appeal can be condoned.<\/p>\n

The NCLAT observed that the appellant was appointed as RP in another project of Corporate Debtor but was later removed and replaced, which means the appellant is neither the RP in the previous project nor is connected with the previous project. The NCLAT further observed that the appellant cannot seek any unpaid Fees\/Costs from the members of the CoCs of another project of the Corporate Debtor.<\/p>\n

NCLAT’s Verdict<\/b><\/p>\n

The NCLAT upheld the impugned order passed by the NCLT and held that the appellant has no Locus standi to make claim for any unpaid Fees\/Costs from the members of the CoCs.<\/p>\n

[Ashok Kriplani v. Ramanathan Bhuvaneshwari, Comp. App. (AT) (CH) (Ins) No. 122\/2023, order dated -01-2023<\/span>]<\/p>\n

*Judgment by Ms. Shreesha Merla (Technical Member)<\/span><\/strong><\/p>\n\n

Advocates who appeared in this case :<\/p>\n

Mr. Ashok Kriplani, Counsel for the Appellant;<\/p>\n

Mr. K.S. Sundar, Counsel for the Respondent No. 1.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The NCLAT held that the appellant has no Locus Standi to make claim for any unpaid Fees\/Costs from the members of the CoCs, as he is neither the RP in the project nor is connected with another project.<\/i><\/p>\n","protected":false},"author":67514,"featured_media":293392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[43781,22814,38453,59321,30182,22014,34025],"class_list":["post-297687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-cirp","tag-corporate-insolvency-resolution-process","tag-justice-m-venugopal","tag-ms-shreesha-merla-technical-member","tag-national-company-law-appellate-tribunal","tag-nclat","tag-resolution-professional"],"yoast_head":"\nIRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor in project wise insolvency: NCLAT | SCC Blog<\/title>\n<meta name=\"description\" content=\"NCLAT held that IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor in project wise insolvency.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"In project wise insolvency, IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor: NCLAT\" \/>\n<meta property=\"og:description\" content=\"NCLAT held that IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor in project wise insolvency.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-26T07:00:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-26T07:04:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"886\" \/>\n\t<meta property=\"og:image:height\" content=\"590\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ritu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"In project wise insolvency, IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor: NCLAT\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ritu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/\",\"name\":\"IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor in project wise insolvency: NCLAT | SCC Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp\",\"datePublished\":\"2023-07-26T07:00:51+00:00\",\"dateModified\":\"2023-07-26T07:04:04+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/392f265bae2f48f0f0d02b8e0e9015b9\"},\"description\":\"NCLAT held that IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor in project wise insolvency.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp\",\"width\":886,\"height\":590,\"caption\":\"national company law appellate tribunal\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"In project wise insolvency, IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor: NCLAT\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/392f265bae2f48f0f0d02b8e0e9015b9\",\"name\":\"Ritu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/c47318594774c1fe55e3e8c85dcd1909276373d9bf11730032fc1a7d05d56a47?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/c47318594774c1fe55e3e8c85dcd1909276373d9bf11730032fc1a7d05d56a47?s=96&d=mm&r=g\",\"caption\":\"Ritu\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_7\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor in project wise insolvency: NCLAT | SCC Blog","description":"NCLAT held that IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor in project wise insolvency.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/","og_locale":"en_US","og_type":"article","og_title":"In project wise insolvency, IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor: NCLAT","og_description":"NCLAT held that IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor in project wise insolvency.","og_url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2023-07-26T07:00:51+00:00","article_modified_time":"2023-07-26T07:04:04+00:00","og_image":[{"width":886,"height":590,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.jpg","type":"image\/jpeg"}],"author":"Ritu","twitter_card":"summary_large_image","twitter_title":"In project wise insolvency, IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor: NCLAT","twitter_misc":{"Written by":"Ritu","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/","url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/","name":"IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor in project wise insolvency: NCLAT | SCC Blog","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp","datePublished":"2023-07-26T07:00:51+00:00","dateModified":"2023-07-26T07:04:04+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/392f265bae2f48f0f0d02b8e0e9015b9"},"description":"NCLAT held that IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor in project wise insolvency.","breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp","width":886,"height":590,"caption":"national company law appellate tribunal"},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/irp-rp-cannot-seek-unpaid-fees-costs-members-corporate-debtor-insolvency-nclat-scc-blog-legal-news\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"In project wise insolvency, IRP\/RP cannot seek unpaid Fees\/Costs from members of CoCs of another project of Corporate Debtor: NCLAT"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/392f265bae2f48f0f0d02b8e0e9015b9","name":"Ritu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c47318594774c1fe55e3e8c85dcd1909276373d9bf11730032fc1a7d05d56a47?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c47318594774c1fe55e3e8c85dcd1909276373d9bf11730032fc1a7d05d56a47?s=96&d=mm&r=g","caption":"Ritu"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_7\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":296343,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/08\/corporate-debtor-cannot-constitute-committee-of-creditors-with-a-single-operational-creditor-under-ibc-nclat\/","url_meta":{"origin":297687,"position":0},"title":"Corporate Debtor cannot constitute Committee of Creditors with a single Operational Creditor under IBC: NCLAT","author":"Ritu","date":"July 8, 2023","format":false,"excerpt":"NCLAT held that CIRP be closed with respect to the Corporate Debtor since not a single \u2018Claim' was received by the IRP even after the public announcement.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"national company law appellate tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":298109,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/31\/tribunal-regulatory-bodies-commissions-monthly-roundup-july-2023-legal-news\/","url_meta":{"origin":297687,"position":1},"title":"Tribunal Monthly Roundup July 2023 | Top Stories on Illegal Sand Mining on Yamuna Bank; Mumbai Floods 2005; Tata Power; and more","author":"Apoorva","date":"July 31, 2023","format":false,"excerpt":"A quick legal roundup to cover important stories from Tribunals, Regulatory Bodies, Commissions this month","rel":"","context":"In "Legal RoundUp"","block_context":{"text":"Legal RoundUp","link":"https:\/\/www.scconline.com\/blog\/post\/category\/columns-for-roundup\/"},"img":{"alt_text":"tribunal monthly july 2023","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/tribunal-monthly-july-2023.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/tribunal-monthly-july-2023.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/tribunal-monthly-july-2023.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/tribunal-monthly-july-2023.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":295726,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/01\/nclat-application-section-7-ibc-debt-default-not-examine-quatum-of-debt-scc-blog\/","url_meta":{"origin":297687,"position":2},"title":"While admitting application under Section 7 of the IBC, existence of Debt and Default needs to be examined not \u2018Quantum of Debt\u2019: NCLAT","author":"Ritu","date":"July 1, 2023","format":false,"excerpt":"\u201cIn the instant case, the record establishes that there is a \u2018debt\u2019 and a \u2018default\u2019 and the Application is complete and the Adjudicating Authority has rightly admitted the Application under Section 7 of the Code.\u201d","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"national company law appellate tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":281287,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/01\/09\/corporate-debtor-corporate-insolvency-resolution-process-cirp-resolution-plan-coc-approved-nclt-allowed-appeal-nclat-commercial-wisdom-dismissed\/","url_meta":{"origin":297687,"position":3},"title":"NCLAT cannot direct modifications of claims once the Resolution Plan is approved","author":"Editor","date":"January 9, 2023","format":false,"excerpt":"In instant matter, the appellants filed an appeal challenging the NCLT order approving the Resolution Plan approved by the CoC. The NCLAT held that once Resolution plan is approved by CoC, it cannot direct modifications of claims to Resolution Plan as the Tribunal does not have residual equity-based jurisdiction.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/12\/MicrosoftTeams-image-395.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":296043,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/05\/tribunal-regulatory-bodies-commissions-monthly-roundup-june-2023-legal-news\/","url_meta":{"origin":297687,"position":4},"title":"Tribunal Roundup June 2023 | Top Stories on Justice Verma\u2019s death; Mula-Mutha Riverfront Project; Tragic mix-up of a sperm sample and more","author":"Apoorva","date":"July 5, 2023","format":false,"excerpt":"A quick legal roundup to cover important stories from Tribunals, Regulatory Bodies, Commissions this month","rel":"","context":"In "Legal RoundUp"","block_context":{"text":"Legal RoundUp","link":"https:\/\/www.scconline.com\/blog\/post\/category\/columns-for-roundup\/"},"img":{"alt_text":"tribunal monthly june 2023","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/tribunal-monthly-june-2023.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/tribunal-monthly-june-2023.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/tribunal-monthly-june-2023.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/tribunal-monthly-june-2023.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":249530,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/06\/10\/moratorium\/","url_meta":{"origin":297687,"position":5},"title":"NCLAT | Can Banks debit amounts from Corporate Debtor Company after Moratorium Order? Is there an obligation of releasing \u2018title deeds\u2019 under Resolution Process? Read on","author":"Bhumika Indulia","date":"June 10, 2021","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT): The Division Bench of Justice Anant Bijay Singh, Judicial Member and Shreesha Merla, Technical Member held that the Banks cannot freeze accounts, nor can they prohibit the \u2018Corporate Debtor\u2019 from withdrawing the amount as available on the date of the moratorium for its day-to-day\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/297687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67514"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=297687"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/297687\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/293392"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=297687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=297687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=297687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}