https://www.taxtmi.com/caselaws?id=423108 Provident fund dues arising from a pending Section 7A proceeding were not required to be included in the resolution plan where no claim had been filed in the corporate insolvency resolution process. The insolvency framework requires the resolution professional to receive and collate submitted claims, and a liability not crystallised through a filed claim does not form part of the plan. Although the regulations contemplate disclosure of material litigation and ongoing proceedings in the information memorandum, the omission to treat an unfiled statutory inquiry as an admitted claim did not invalidate the approved resolution plan. The plan was sustained and the appellant was left to pursue any other available recovery remedy. en-us Fri, 27 May 2022 00:00:00 +0530 Mon, 30 May 2022 08:45:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423108 Provident fund dues arising from a pending Section 7A proceeding were not required to be included in the resolution plan where no claim had been filed in the corporate insolvency resolution process. The insolvency framework requires the resolution professional to receive and collate submitted claims, and a liability not crystallised through a filed claim does not form part of the plan. Although the regulations contemplate disclosure of material litigation and ongoing proceedings in the information memorandum, the omission to treat an unfiled statutory inquiry as an admitted claim did not invalidate the approved resolution plan. The plan was sustained and the appellant was left to pursue any other available recovery remedy. Case-Laws Insolvency and Bankruptcy Fri, 27 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423108