Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
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A renewed challenge to the implementation of an approved resolution plan was barred by res judicata and constructive res judicata because the same issues had already been raised in earlier proceedings, the plan approval had attained finality, and prior appeals had failed. The NCLAT held that the appellant could not reopen its status or quantum of dues as a secured operational creditor by filing another appeal against the same common order, and its refusal to accept the plan amount was obstructing completion of the insolvency process. It also held that an approved resolution plan must be implemented unconditionally, so post-approval liabilities cannot be added or made contingent on further clarifications. The appeal and interlocutory application were dismissed, with directions for compliance.
A renewed challenge to the implementation of an approved resolution plan was barred by res judicata and constructive res judicata because the same issues had already been raised in earlier proceedings, the plan approval had attained finality, and prior appeals had failed. The NCLAT held that the appellant could not reopen its status or quantum of dues as a secured operational creditor by filing another appeal against the same common order, and its refusal to accept the plan amount was obstructing completion of the insolvency process. It also held that an approved resolution plan must be implemented unconditionally, so post-approval liabilities cannot be added or made contingent on further clarifications. The appeal and interlocutory application were dismissed, with directions for compliance.
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