{"id":297888,"date":"2023-07-28T12:00:13","date_gmt":"2023-07-28T06:30:13","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=297888"},"modified":"2023-08-10T18:17:26","modified_gmt":"2023-08-10T12:47:26","slug":"operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/","title":{"rendered":"Operational Creditor cannot claim payment equal to Financial Creditor in Insolvency proceeding under IBC: NCLAT"},"content":{"rendered":"
\n

National Company Law Appellate Tribunal, New Delhi:<\/b> A Division Bench comprising of Ashok Bhushan,* J.,<\/b> and Mr. Barun Mitra (Technical Member), held that the Resolution Plan approved by the Adjudicating Authority is not discriminative in the distribution of the proposed amount to the Operational Creditor vis-à-vis Financial Creditors because the Operational Creditor cannot claim equal payment to the Financial Creditors.<\/p>\n

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

In the instant matter, two appeals ‘Company Appeal (AT) Ins. No. 613 of 2022 and Company Appeal (AT) Ins. No. 795 of 2022’ arsing out of order dated 03-02-2022 and 07-04-2022 respectively, passed by the Adjudicating Authority are decided together by the NCLAT, since, both the appeals are raising common questions of fact and law. In both the case, Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor and on the Public Announcement made by the Interim Resolution Processional (IRP), the appellants submitted their claim in Form-B in the capacity of the Operational Creditor. The Adjudicating Authority vide impugned orders approved the Resolution Plan approved by the Committee of Creditors (CoCs) where the appellants were paid less than the claim submitted by them in Form-B and the Financial Creditors were paid much higher amount. Aggrieved by the impugned orders passed by the Adjudicating Authority, the appellants preferred the present appeals challenging the impugned orders.<\/p>\n

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

Whether the appellants can claim discrimination in payment qua the financial creditors in the present appeals?<\/p>\n

Court’s Observation<\/b><\/p>\n

The Court observed that there is no dispute that claim filed by the appellants in CIRP of the Corporate Debtor was admitted by the Resolution Professional, moreover, there is no dispute that Financial Creditors in both the Resolution Plans were paid much higher amount to those given to the appellants-Operational Creditors.<\/p>\n

The Court observed that the Financial Creditor under Section 53(i)(b) of the IBC are entitled to receive payment equal to those workmen dues and the Operational Creditor cannot claim payment equal to the Financial Creditor. The Court relied on CoC of Essar Steel India Ltd.<\/i> v. Satish Kumar Gupta<\/i>, (2020) 8 SCC 531<\/a>, and observed that the principle of equality is applicable only in same class of creditors, i.e., “equitable treatment is to be accorded to each creditor depending upon the class to which it belongs: secured or unsecured, financial or operational.”<\/b><\/p>\n

Court’s Verdict<\/b><\/p>\n

The Court held that the approval of the Resolution Plan by the Adjudicating Authority via impugned orders cannot be faulted on the grounds that the said Resolution Plan is not in consonance with the provision of IBC and is discriminative in the distribution of the proposed amount to the Operational Creditor vis-à-vis Financial Creditors.<\/p>\n

[TP Central Odisha Distribution Ltd. v. COS Board Industries Ltd., 2023 SCC OnLine NCLAT 399<\/a>, order dated 04-07-2023<\/span>]<\/p>\n

*Judgment by Ashok Bhushan<\/span><\/strong><\/p>\n\n

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

Mr. Rajeeve Mehra, Sr. Advocate with Mr. Anand Kumar Shrivastava, Ms. Amrita Bakshi, Counsel for the Appellants;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The principle of equality is applicable only in same class of creditors, i.e., secured or unsecured, financial or operational.<\/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":[43781,59768,46429,30182,22014,30228],"class_list":["post-297888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-cirp","tag-insolvency-proceeding-under-ibc","tag-justice-ashok-bhushan","tag-national-company-law-appellate-tribunal","tag-nclat","tag-resolution-plan"],"yoast_head":"\nOperational Creditor cannot claim payment equal to Financial Creditor in Insolvency proceeding under IBC: NCLAT | SCC Blog<\/title>\n<meta name=\"description\" content=\"NCLAT held that the Operational Creditor cannot claim payment equal to the Financial Creditor in an insolvency proceeding under IBC.\" \/>\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\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Operational Creditor cannot claim payment equal to Financial Creditor in Insolvency proceeding under IBC: NCLAT\" \/>\n<meta property=\"og:description\" content=\"NCLAT held that the Operational Creditor cannot claim payment equal to the Financial Creditor in an insolvency proceeding under IBC.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/\" \/>\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=\"2023-07-28T06:30:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-10T12:47:26+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=\"Operational Creditor cannot claim payment equal to Financial Creditor in Insolvency proceeding under IBC: 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=\"3 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\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/\",\"name\":\"Operational Creditor cannot claim payment equal to Financial Creditor in Insolvency proceeding under IBC: NCLAT | SCC Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp\",\"datePublished\":\"2023-07-28T06:30:13+00:00\",\"dateModified\":\"2023-08-10T12:47:26+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/392f265bae2f48f0f0d02b8e0e9015b9\"},\"description\":\"NCLAT held that the Operational Creditor cannot claim payment equal to the Financial Creditor in an insolvency proceeding under IBC.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/#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\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Operational Creditor cannot claim payment equal to Financial Creditor in Insolvency proceeding under IBC: 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":"Operational Creditor cannot claim payment equal to Financial Creditor in Insolvency proceeding under IBC: NCLAT | SCC Blog","description":"NCLAT held that the Operational Creditor cannot claim payment equal to the Financial Creditor in an insolvency proceeding under IBC.","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\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/","og_locale":"en_US","og_type":"article","og_title":"Operational Creditor cannot claim payment equal to Financial Creditor in Insolvency proceeding under IBC: NCLAT","og_description":"NCLAT held that the Operational Creditor cannot claim payment equal to the Financial Creditor in an insolvency proceeding under IBC.","og_url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2023-07-28T06:30:13+00:00","article_modified_time":"2023-08-10T12:47:26+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":"Operational Creditor cannot claim payment equal to Financial Creditor in Insolvency proceeding under IBC: NCLAT","twitter_misc":{"Written by":"Ritu","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/","url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/","name":"Operational Creditor cannot claim payment equal to Financial Creditor in Insolvency proceeding under IBC: NCLAT | SCC Blog","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp","datePublished":"2023-07-28T06:30:13+00:00","dateModified":"2023-08-10T12:47:26+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/392f265bae2f48f0f0d02b8e0e9015b9"},"description":"NCLAT held that the Operational Creditor cannot claim payment equal to the Financial Creditor in an insolvency proceeding under IBC.","breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/#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\/28\/operational-creditor-cannot-claim-payment-equal-to-financial-creditor-in-insolvency-proceeding-under-ibc-nclat\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Operational Creditor cannot claim payment equal to Financial Creditor in Insolvency proceeding under IBC: 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":270628,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/07\/25\/nclat-mumbai-interest-on-delayed-payments-is-a-part-of-operational-debt-under-s-311-of-ibc\/","url_meta":{"origin":297888,"position":0},"title":"NCLAT Mumbai |Interest on Delayed Payments is a part of Operational Debt under S. 3(11) of IBC","author":"Editor","date":"July 25, 2022","format":false,"excerpt":"National Company Appellate Tribunal, Mumbai: The Bench of Ashok Bhushan, J., Chairperson, M. Satyanarayana Murthy, Judicial Member, and Naresh Salecha, Technical member has dismissed a company appeal and has held that interest on delayed payment is also a form of debt and therefore, would form a part of the operational\u2026","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\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"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":297888,"position":1},"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":291227,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/05\/04\/nclat-discusses-settlement-after-constitution-of-committee-of-creditors-under-ibc\/","url_meta":{"origin":297888,"position":2},"title":"What is the rule for settlement after constitution of ‘Committee of Creditors’? NCLAT Answers","author":"Ritu","date":"May 4, 2023","format":false,"excerpt":"\u201cAny settlement after passing of the impugned order and after constitution of the CoC is only permissible when the same is approved with 90% vote share of CoC.\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\/02\/MicrosoftTeams-image-458.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":293529,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/05\/31\/nclat-upheld-nclt-order-debt-remains-unpaid-scc-blog-legal-research-news\/","url_meta":{"origin":297888,"position":3},"title":"No benefit to Corporate Debtor, if Criminal Proceedings were initiated after receipt of Demand Notice: NCLAT upholds NCLT’s order","author":"Ritu","date":"May 31, 2023","format":false,"excerpt":"While upholding NCLT's order the NCLAT held that in the present case there is a debt which remained unpaid by the Operational Creditor.","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":284731,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/02\/22\/resolution-plan-coc-successful-resolution-professional-financial-creditor-application-nclt-reconsider-resolution-plan-allowed-nclat-appeal-dismissed\/","url_meta":{"origin":297888,"position":4},"title":"In what circumstances and conditions, Adjudicating Authority can send back a Resolution Plan to CoC for carrying out changes? NCLAT Answers","author":"Ritu","date":"February 22, 2023","format":false,"excerpt":"In the instant matter an appeal was preferred before NCLAT challenging the order of the Adjudicating Authority remitting a Resolution Plan back to the CoC for reconsideration in accordance with law.","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\/02\/MicrosoftTeams-image-458.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":294481,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/06\/13\/nclat-operational-creditor-cannot-seek-cirp-section-9-ibc-exist-real-dispute-legal-news\/","url_meta":{"origin":297888,"position":5},"title":"Operational creditor cannot seek to initiate CIRP against Corporate Debtor when real dispute exists: NCLAT","author":"Ritu","date":"June 13, 2023","format":false,"excerpt":"The NCLAT set aside Adjudicating Authority's order initiating CIRP of the Corporate Debtor.","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":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/297888","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=297888"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/297888\/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=297888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=297888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=297888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}