Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + AT Insolvency and Bankruptcy - 2018 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (6) TMI 680 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHICorporate Insolvency Resolution Process - appellants had failed to file their respective claim within the prescribed period - Held that:- In spite of receipt of their claim much beyond the period prescribed under the I & B Code, the ‘Resolution Plan’ has taken care of the claim of the appellants, we are not inclined to interfere with the order passed by the Adjudicating Authority. In a particular case, what should be the percentage of claim amount payable to one or other ‘Financial Creditor’ or ‘Operational Creditor or ‘Secured Creditor’ or ‘Unsecured Creditor’ can be decided by the Committee of Creditors based on facts and circumstances of each case. In absence of any discrimination or perverse decision, it is not open to the Adjudicating Authority or this Appellate Tribunal to modify the plan. We find no merit in the appeal. They are dismissed Insofar the winding up proceedings or other litigations pending before any Court of law, we are not expressing any opinion as the Court of competent jurisdiction will decide the same
|