Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
The Appellate Tribunal dismissed the appeal and upheld the rejection of the Appellant's claim by the Resolution Professional (RP) due to delay. The Committee of Creditors (CoC) had approved the resolution plan on 18.10.2021, while the Appellant filed the claim on 19.03.2022, much after the approval. The Tribunal followed the Supreme Court's judgment in M/s RPS Infra, which held that once the CoC approves the plan, no claim can be entertained, even if the Adjudicating Authority has not yet approved the plan. The Appellant's reliance on the Puneet Kaur case was rendered ineffective by the subsequent M/s RPS Infra judgment. Consequently, the Appellate Tribunal found no error in rejecting the Appellant's belated claim after the CoC's approval of the resolution plan.
The Appellate Tribunal dismissed the appeal and upheld the rejection of the Appellant's claim by the Resolution Professional (RP) due to delay. The Committee of Creditors (CoC) had approved the resolution plan on 18.10.2021, while the Appellant filed the claim on 19.03.2022, much after the approval. The Tribunal followed the Supreme Court's judgment in M/s RPS Infra, which held that once the CoC approves the plan, no claim can be entertained, even if the Adjudicating Authority has not yet approved the plan. The Appellant's reliance on the Puneet Kaur case was rendered ineffective by the subsequent M/s RPS Infra judgment. Consequently, the Appellate Tribunal found no error in rejecting the Appellant's belated claim after the CoC's approval of the resolution plan.
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