2025 (7) TMI 712 - SCH - IBC

Jurisdiction of NCLT to decide issues after the approval of the resolution plan - NCLT nullified the outstanding dues payable to the Appellant for the period prior to initiation of Corporate Insolvency Resolution Process - it was held by NCLAT that i) NCLT has jurisdiction to adjudicate disputes arising from insolvency resolutions as per Section 60(5) of the IBC. ii) The provisions of the IBC 2016 override those of the Electricity Act 2003 as per Section 238 of the IBC. iii) Once a resolution plan is approved it is binding on all stakeholders extinguishing pre-CIRP dues unless claims are filed during the CIRP. HELD THAT - There is no good ground and reason to interfere with the impugned judgment passed by the National Company Law Appellate Tribunal New Delhi. Appeal dismissed.

Summary

The Supreme Court, through Hon'ble Justices Sanjay Kumar and K. V. Viswanathan, dismissed the civil appeal challenging the judgment of the National Company Law Appellate Tribunal, New Delhi. The Court found "no good ground and reason to interfere" with the impugned decision. Consequently, the appeal was dismissed and all pending applications were disposed of.