https://www.taxtmi.com/caselaws?id=408599 An approved resolution plan could not be recalled or set aside merely because a claimant alleged non-consideration of its dues or lack of hearing, since insolvency proceedings do not confer a general power of review and the limited rectificatory power applies only to mistakes apparent from the record. The tribunal found no such error, noted that the claimant had filed after approval of the plan, and observed that the plan already provided for its dues on the basis of the information memorandum. It also held that a belated claim cannot be revived after plan approval, and the adjudicating authority cannot direct reconsideration of a claim filed beyond the prescribed timeline. en-us Fri, 04 Jun 2021 00:00:00 +0530 Wed, 16 Jun 2021 11:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408599 An approved resolution plan could not be recalled or set aside merely because a claimant alleged non-consideration of its dues or lack of hearing, since insolvency proceedings do not confer a general power of review and the limited rectificatory power applies only to mistakes apparent from the record. The tribunal found no such error, noted that the claimant had filed after approval of the plan, and observed that the plan already provided for its dues on the basis of the information memorandum. It also held that a belated claim cannot be revived after plan approval, and the adjudicating authority cannot direct reconsideration of a claim filed beyond the prescribed timeline. Case-Laws Insolvency and Bankruptcy Fri, 04 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408599