Belated stamp duty claims cannot reopen an approved resolution plan under the clean slate principle in CIRP.

A belated stamp duty claim filed nearly 30 months after the public announcement in CIRP was held not entertainable, because the resolution plan had already been approved and specifically dealt with statutory dues, including stamp duty liabilities. The Tribunal applied the clean slate principle and held that reopening the resolution process after approval would defeat timely resolution under insolvency law. It also found that filing the claim in the wrong form did not excuse the unexplained delay. The moratorium was held to bar continuation of such proceedings against the corporate debtor, and the approved resolution plan was left undisturbed.

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Issues: Whether the Appellant's stamp duty claim, filed long after the public announcement and after substantial delay, could be entertained in the CIRP and disturb the approved resolution plan.

Analysis: The claim was filed nearly 30 months after the public announcement and long after the resolution process had advanced. The Resolution Plan had already specifically dealt with stamp duty liabilities and provided treatment for statutory dues, including stamp duty payments. The Tribunal held that an unsuccessful or belated claimant cannot reopen the resolution process after the plan has been approved by the Committee of Creditors, as that would defeat the objective of timely resolution and the clean slate principle. The Tribunal also rejected the objection that the claim was filed in the wrong form, but found that this did not cure the unexplained delay. The moratorium under the insolvency law was also held to bar continuation of such proceedings against the corporate debtor.

Conclusion: The belated stamp duty claim was not entertainable, and the approved resolution plan was not to be disturbed. The appeal failed.

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