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2022 (3) TMI 115 - NATIONAL COMPANY LAW TRIBUNAL , PRINCIPAL BENCH, NEW DELHIFinancial Creditor or Operational Creditor - Resolution Applicants are already before the CoC with their Resolution Plan - converting and considering the applicant/GNIDA as Operational Creditor and not informing for participating in a meeting of committee of Creditors - HELD THAT:- The issue whether the Applicant can be considered as a Financial Creditor instead of Operational Creditor, in case when the Resolution Plan provides for the claim in proportion to other Financial Creditors, does not arise at this stage as the claim of the Applicant has already been considered by the Resolution Applicant viz., M/s. Statcon Electronics India Limited (Resolution Applicant), in addition to this, the Resolution Applicant issued a letter dated 05.02.2021, through which the Resolution Applicant gave an undertaking affidavit to pay the Applicant as per the proportionate ratio given to other financial creditors' in the Resolution Plan. The said letter further stated that such payments had been taken under contingencies fund therefore, no prejudice will be caused to the Applicant in case the claim is admitted as either Operational Creditor or Financial Debt, as the amounts that would be paid to it under the Resolution Plan will be as per the proportion ratio given to other Financial Creditors. Application dismissed.
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