{"id":306776,"date":"2023-11-07T18:00:37","date_gmt":"2023-11-07T12:30:37","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=306776"},"modified":"2023-11-07T17:41:28","modified_gmt":"2023-11-07T12:11:28","slug":"belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/","title":{"rendered":"Belated claims, even if allegedly due to fraud, may not be admitted once Resolution Plan is approved: NCLAT"},"content":{"rendered":"
\n

National Company Law Appellate Tribunal, New Delhi:<\/span> In an appeal against the order rejecting application seeking admission of a claim filed after the prescribed timeline, a 3-member bench comprising of Ashok Bhushan,* J.<\/span>, Barun Mitra (Technical Member) and Arun Baroka (Technical Member), upheld the Adjudicating Authority’s decision to reject the belated claim, citing RPS Infrastructure Ltd.<\/span> v. Mukul Kumar<\/span>, 2023 SCC OnLine SC 1147<\/a>, as the claim was filed after 14 months post-Plan approval and more than 750 days after the deadline for submitting claims.<\/p>\n

Brief Facts<\/p>\n

In the instant matter the Adjudicating Authority admitted an Application under Section 9 of the IBC against respondent on 17-12-2019. The Interim Resolution Professional (IRP) of the Corporate Debtor invited claims until 31-12-2019 and the Committee of Creditors (CoC) approved the Resolution Plan on 16-01-2021. Later, the Three C Green Developers (P) Ltd. was admitted in Section 7 proceedings with the appellant appointed as Resolution Professional (RP).<\/p>\n

The appellant filed a claim on behalf of Three C Green Developers (P) Ltd. on 06.04.2022, which was not admitted. The appellant then filed an application seeking various reliefs, including the admission of the claim, a stay on the resolution plan, and an independent expert inquiry. The Adjudicating Authority initially rejected the application, and the appellant filed an appeal, which was allowed, and the matter was remanded to the Adjudicating Authority. The Adjudicating Authority, after remand, rejected the application, citing a delay in filing the claim vide order dated 12-09-2023. Aggrieved by the impugned order, the appellant preferred the present appeal challenging the same.<\/p>\n

Parties’ Contentions<\/p>\n

The appellant argued that the Ex-Management and Directors of Three C Green Developers (P) Ltd. deliberately omitted to file their claims during the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor and the appellant, as the RP, was authorized by the CoC to file the claim on their behalf. The appellant claimed that the Ex-Management’s actions amounted to fraud and could render the approval of the Resolution Plan by the CoC invalid. The appellant asserted that the assets and receivables of the Corporate Debtor were charged and registered with the Registrar of Companies (ROC). The IRP of the Corporate Debtor should have included the claim in the Information Memorandum.<\/p>\n

The respondents contended that the appellant’s claim was highly belated and filed after the CoC had approved the Resolution Plan, making it inadmissible.<\/p>\n

NCLAT’s Assessment and Decision<\/p>\n

The NCLAT found that the appellant’s claim was filed more than 14 months after the CoC had approved the Resolution Plan and more than 750 days after the deadline for submitting claims. The NCLAT noted that no claims or protests were lodged during the entire CIRP process by the Company. The NCLAT also noted that both Three C Green Developers (P) Ltd. and Corporate Debtor had common management.<\/p>\n

The NCLAT upheld the Adjudicating Authority’s decision, citing RPS Infrastructure Ltd.<\/span> (Supra) and the principle that allowing claims after CoC approval could lead to an endless process. The Supreme Court opined that “The mere fact that the Adjudicating Authority has yet not approved the plan does not imply that the plan can go back and forth, thereby making the CIRP an endless process. This would result in the reopening of the whole issue, particularly as there may be other similar persons who may jump onto the bandwagon.”<\/span><\/p>\n

The NCLAT rejected the appellant’s argument invoking Section 17<\/a> of the Limitation Act, 1963<\/a> as the alleged fraud was attributed to the Ex-Management of Three C Green Developers (P) Ltd., not the Corporate Debtor.<\/p>\n

The NCLAT found no merit in the appeal and dismissed it, without awarding costs.<\/p>\n

[Gyan Chandra Misra<\/span> v. Three C Universal Developers (P) Ltd.<\/span>, Company Appeal (AT) (Insolvency) No.1316 of 2023, order dated 17-10-2023<\/span>]<\/p>\n

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

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

Mr. Gaurav Mitra, Roy Choudhary, Ms. Mrinal Harsh Vardhan, Counsel for the Appellant<\/p>\n

Mr. Abhishek Anand, Mr. Mohak Sharma, Mr. Shikhar Tiwari, Mr. Parveen Kaur Kapoor, Mr. Rahul Singhal, Counsel for the Respondent<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The NCLAT rejected Resolution Professional’s reliance on Section 17 of the Limitation Act, 1963, as no fraud was found on the part of the Corporate Debtor.<\/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":[22814,10141,46429,30182,22014,30228],"class_list":["post-306776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-corporate-insolvency-resolution-process","tag-fraud","tag-justice-ashok-bhushan","tag-national-company-law-appellate-tribunal","tag-nclat","tag-resolution-plan"],"yoast_head":"\nBelated claims, even if allegedly due to fraud, may not be admitted once Resolution Plan is approved: NCLAT | SCC Blog<\/title>\n<meta name=\"description\" content=\"NCLAT held that belated claims may not be admitted once Resolution Plan is approved even if the same is allegedly due to fraud.\" \/>\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\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Belated claims, even if allegedly due to fraud, may not be admitted once Resolution Plan is approved: NCLAT\" \/>\n<meta property=\"og:description\" content=\"NCLAT held that belated claims may not be admitted once Resolution Plan is approved even if the same is allegedly due to fraud.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/\" \/>\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=\"2023-11-07T12:30:37+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=\"Belated claims, even if allegedly due to fraud, may not be admitted once Resolution Plan is approved: 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\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/\",\"name\":\"Belated claims, even if allegedly due to fraud, may not be admitted once Resolution Plan is approved: NCLAT | SCC Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp\",\"datePublished\":\"2023-11-07T12:30:37+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/392f265bae2f48f0f0d02b8e0e9015b9\"},\"description\":\"NCLAT held that belated claims may not be admitted once Resolution Plan is approved even if the same is allegedly due to fraud.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/#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\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Belated claims, even if allegedly due to fraud, may not be admitted once Resolution Plan is approved: 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":"Belated claims, even if allegedly due to fraud, may not be admitted once Resolution Plan is approved: NCLAT | SCC Blog","description":"NCLAT held that belated claims may not be admitted once Resolution Plan is approved even if the same is allegedly due to fraud.","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\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/","og_locale":"en_US","og_type":"article","og_title":"Belated claims, even if allegedly due to fraud, may not be admitted once Resolution Plan is approved: NCLAT","og_description":"NCLAT held that belated claims may not be admitted once Resolution Plan is approved even if the same is allegedly due to fraud.","og_url":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2023-11-07T12:30:37+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":"Belated claims, even if allegedly due to fraud, may not be admitted once Resolution Plan is approved: 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\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/","url":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/","name":"Belated claims, even if allegedly due to fraud, may not be admitted once Resolution Plan is approved: NCLAT | SCC Blog","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp","datePublished":"2023-11-07T12:30:37+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/392f265bae2f48f0f0d02b8e0e9015b9"},"description":"NCLAT held that belated claims may not be admitted once Resolution Plan is approved even if the same is allegedly due to fraud.","breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/#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\/11\/07\/belated-claims-even-if-allegedly-due-to-fraud-may-not-be-admitted-once-resolution-plan-is-approved-nclat-scc-blog\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Belated claims, even if allegedly due to fraud, may not be admitted once Resolution Plan is approved: 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":307307,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/16\/financial-debt-claims-under-section-58-of-ibc-cannot-be-entertained-after-cocs-approval-of-resolution-plan-nclat-scc-blog\/","url_meta":{"origin":306776,"position":0},"title":"Financial Debt claim under Section 5(8) of IBC cannot be entertained after CoC\u2019s approval of Resolution Plan: NCLAT","author":"Ritu","date":"November 16, 2023","format":false,"excerpt":"The NCLAT reiterated the importance of adhering to timelines in the Insolvency resolution process and the unacceptability of claims filed after the approval of the Resolution Plan by the CoC.","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":297888,"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\/","url_meta":{"origin":306776,"position":1},"title":"Operational Creditor cannot claim payment equal to Financial Creditor in Insolvency proceeding under IBC: NCLAT","author":"Ritu","date":"July 28, 2023","format":false,"excerpt":"The principle of equality is applicable only in same class of creditors, i.e., secured or unsecured, financial or operational.","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":307298,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/16\/doctrine-of-promissory-estoppel-cannot-be-applied-against-approved-resolution-plan-under-ibc-nclat-scc-blog\/","url_meta":{"origin":306776,"position":2},"title":"IBC| Doctrine of promissory estoppel cannot be applied against approved Resolution Plan: NCLAT","author":"Ritu","date":"November 16, 2023","format":false,"excerpt":"NCLAT upheld the Adjudicating Authority\u2019s order on finding no error in rejecting the appellant\u2019s objections to the Resolution Plan.","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":306360,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/11\/04\/nclat-affirms-dismissal-of-minority-homebuyers-challenge-to-resolution-plan-scc-blog\/","url_meta":{"origin":306776,"position":3},"title":"NCLAT affirms dismissal of minority homebuyers\u2019 challenge to Resolution Plan; says it does not fall foul of law on reduction in claim","author":"Ritu","date":"November 4, 2023","format":false,"excerpt":"The democratic principles of the determinative role of majority opinion are enshrined in the IBC, and objections by a minority within a class, when the majority has approved a resolution plan, have no legal standing.","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":289137,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/04\/10\/nclt-approved-resolution-plan-nclat-allocation-meager-amount-no-ground-challenge-plan-appeal-dismissed-legal-research-news-scc-blog\/","url_meta":{"origin":306776,"position":4},"title":"\u201cLaw will take its own course\u201d; NCLAT refuses to interfere with NCLT’s order approving Resolution Plan","author":"Ritu","date":"April 10, 2023","format":false,"excerpt":"NCLAT held that that the allocation of meagre amount in Resolution Plan to Creditors can be questioned when the plan value earmarked for them is less than the liquidation value but same is not the case in instant matter.","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":282971,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/02\/02\/tribunal-regulatory-bodies-and-commissions-monthly-roundup-january-2023-25-legal-stories-including-no-relief-in-cci-penalty-on-google-tds-deduction-and-interest-on-securities-high-level-commit\/","url_meta":{"origin":306776,"position":5},"title":"Tribunal, Regulatory Bodies and Commissions Monthly Roundup | January 2023 | 25+ Legal Stories including no relief in CCI penalty on Google, TDS deduction and interest on securities, high-level committee for Yamuna pollution, no clean chit to DLF, and more","author":"Editor","date":"February 2, 2023","format":false,"excerpt":"APPELLATE TRIBUNAL FOR ELECTRICITY (ATE) Bureau of Energy Efficiency takes suo motu verification test on a sample refrigerator of Whirlpool India and found quality non-compliance; Appellate Tribunal for Electricity sets aside the order A division bench of Ramesh Ranganathan (Chairperson) and Sandesh Kumar Sharma (Technical Member) set aside the order\u2026","rel":"","context":"In "Legal RoundUp"","block_context":{"text":"Legal RoundUp","link":"https:\/\/www.scconline.com\/blog\/post\/category\/columns-for-roundup\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-258.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/306776","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=306776"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/306776\/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=306776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=306776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=306776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}