Prayer for condonation of delay of 1197 days and admission of ...

Appeal Denied: Tribunal Upholds Rejection of Late Claims After Resolution Plan Approval, No Condonation Granted.

February 23, 2024

Case Laws     Insolvency and Bankruptcy     AT

Prayer for condonation of delay of 1197 days and admission of the claim - The appellants argue that their claims should be considered despite the approval of the Resolution Plan by the CoC. They contend that the Corporate Debtor is bound to honor agreements, but the respondents argue that no new claims can be admitted after the approval of the plan. - The NCLAT held that, there is no error has been committed by the Adjudicating Authority in rejecting Applications filed by the Appellants.

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