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        Case ID :
        IBC

        NCLAT dismissed the appeal and affirmed the impugned order dated...

        Appeal dismissed; approved resolution plan upheld, NCD holders barred from duplicate recovery after prior settlement and undertakings under Section 30

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                NCLAT dismissed the appeal and affirmed the impugned order dated 11.06.2024, holding that the approved resolution plan could not be modified to permit duplicate recovery by NCD holders. The court found the CIRP of the corporate debtor validly initiated, the IRP/RP properly appointed, and 188 NCD investors were represented in the CoC through their authorized representative and trustee. Having received payments under a prior settlement approved by the HC and executed undertakings foregoing further claims, those investors could not also claim amounts under the resolution plan. The Tribunal's rejection of applications to alter trustee or reopen representation was upheld, and the appeal was dismissed as devoid of merit.
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