NCLAT upholds NCLT jurisdiction under Section 60(5) IBC to nullify pre-CIRP dues post-resolution plan approval

SC dismissed appeal challenging NCLAT decision on NCLT jurisdiction post-resolution plan approval. NCLT nullified appellant's outstanding dues from pre-CIRP period. NCLAT held NCLT has jurisdiction under Section 60(5) IBC to adjudicate insolvency resolution disputes, IBC provisions override Electricity Act 2003 per Section 238, and approved resolution plans bind all stakeholders, extinguishing pre-CIRP dues unless claims filed during CIRP. SC found no grounds to interfere with NCLAT judgment.

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The Supreme Court, through Hon'ble Justices Sanjay Kumar and K. V. Viswanathan, dismissed the civil appeal challenging the judgment of the National Company Law Appellate Tribunal, New Delhi. The Court found "no good ground and reason to interfere" with the impugned decision. Consequently, the appeal was dismissed and all pending applications were disposed of.

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