Tribunal Upheld Validity of Resolution Plan Post-Approval, Rejects Appeal Against Excluded Claim

The Tribunal upheld the Resolution Plan's validity post-approval, rejecting the appeal against the Impugned Order that did not consider the Appellant's claim. The Appellant's belated claim of &8377;82,50,32,950 was excluded from the distribution among Operational Creditors due to its late filing, falling outside the 90-day claim submission period. Legal arguments emphasized the finality of approved Resolution Plans and the extinguishment of claims not included in them. The Tribunal affirmed the Resolution Plan's integrity, citing legal precedents and rejecting the appeal based on the non-inclusion of the Appellant's claim.

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Issues:
1. Appellant aggrieved by Impugned Order allowing Resolution Professional's application without considering Appellant's claim.
2. Appellant's claim rejected by Resolution Professional, leading to appeal under IBC.
3. Dispute over Appellant's claim amount and its consideration in the distribution.
4. Erstwhile RP's role and submission of facts in response to the appeal.
5. Arguments presented by the Appellant, Respondent No. 1, and Erstwhile RP.
6. Issue of timeliness of Appellant's claim filing and its consideration in the Resolution Plan.
7. Application of relevant legal judgments to determine the fate of the appeal.

Analysis:
1. The appeal was filed under Section 61 of IBC against the Impugned Order, which allowed the Resolution Professional's application without considering the Appellant's claim. The CIRP against the Corporate Debtor commenced on 12.11.2018, with the Resolution Plan approved on 4.9.2020 by the Adjudicating Authority.
2. The Appellant's claim of &8377; 82,50,32,950 was disputed, with a portion compromised under the "Sabka Vishwas" scheme. The Appellant contended that his claim was not adequately considered during distribution among Operational Creditors, seeking a share based on pending GST dues and the timing of his claim filing.
3. Erstwhile RP's submission clarified the rejection of Appellant's claim and its exclusion from the Resolution Plan due to belated filing. The Appellant's claim post-dated the 90-day period for claim submission, expiring on 9.2.2019, and was communicated as rejected on 3.1.2020.
4. Legal arguments revolved around the finality of Resolution Plans post-approval and the extinguishment of claims not included in the plan. The judgments cited emphasized the binding nature of approved plans and the need for clarity in claim settlements before the resolution process concludes.
5. The Tribunal, after considering all arguments and submissions, upheld the Resolution Plan's integrity, as it did not include the Appellant's belated claim. Citing legal precedents, the Tribunal rejected the appeal, affirming the Resolution Plan's validity post-approval and the non-inclusion of the Appellant's claim.

This detailed analysis showcases the procedural history, factual background, legal contentions, and the Tribunal's decision in a comprehensive manner, addressing each issue raised in the judgment.

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