Post-resolution-plan relief for CIRP claims was held not maintainable once the plan had been approved.

Applications by operational creditors for payment of alleged CIRP-period invoices as insolvency resolution process cost, interest on claims, and disciplinary action against the resolution professional were held not maintainable after approval of the resolution plan. The applicants had filed claims during the CIRP and were informed of the claims admitted without interest, but they did not effectively challenge that position before the plan was approved. Once the resolution plan stood approved, the resolution professional and the committee of creditors ceased to exist, so fresh relief could not be sought before the Tribunal on matters that should have been raised earlier. The applications were disposed of against the applicants.

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Issues: Whether applications by operational creditors seeking payment of alleged CIRP-period invoices as insolvency resolution process cost, interest on claims, and disciplinary action against the resolution professional were maintainable after approval of the resolution plan.

Analysis: The applications were filed after the resolution plan had already been approved. The record showed that the applicants had submitted their claims during the CIRP, had been informed of the claims admitted without interest, and had not effectively challenged the position before approval of the plan. Once the resolution plan stood approved, the resolution professional and the committee of creditors ceased to exist. In that situation, the applicants could not seek fresh relief from the Tribunal against matters that ought to have been raised before approval of the plan. The Tribunal therefore treated the later applications as not maintainable.

Conclusion: The applications were held to be not maintainable and were disposed of against the applicants.

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