Refusal to entertain the belated claims of Homebuyers as ...

Insolvency and Bankruptcy

June 3, 2022

Refusal to entertain the belated claims of Homebuyers as Financial Creditors of the Corporate Debtor - The argument of the Respondents that since CoC has approved the Resolution Plan, the claim of the Appellant(s) have been extinguished, cannot be accepted as there is no extinguishment of claim of the Appellant(s) on approval of Plan by the CoC. - under Regulation 36, sub-regulation 2(l), there is column for other information, which the Resolution Professional deems relevant to the Committee - The purpose of CIRP of Corporate Debtor is to find out all liabilities of the Corporate Debtor and take steps towards resolution. Unless all liabilities of the Corporate Debtor are not known or included in the Information Memorandum, the occasion to complete the CIRP shall not arise. - AT

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Refusal to entertain the belated claims of Homebuyers as ...

Insolvency and Bankruptcy

June 3, 2022

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