https://www.taxtmi.com/caselaws?id=446077 NCLAT Chennai dismissed an appeal seeking recognition as financial creditor and inclusion in creditor list. The tribunal found the matter barred by res judicata, noting previous determination that appellant's status as financial creditor was disputed. NCLAT emphasized that once Committee of Creditors decided to remove the Resolution Professional, inclusion of disputed creditor was improper. Additionally, money laundering proceedings against appellant precluded committee membership. The tribunal applied clean slate theory from Essar Steel judgment, preventing resurrection of past claims to avoid uncertainty for resolution applicants. Previous adjudicating authority order directing claim revision was set aside without liberty to re-approach. en-us Fri, 24 Nov 2023 00:00:00 +0530 Sat, 25 Nov 2023 06:01:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446077 NCLAT Chennai dismissed an appeal seeking recognition as financial creditor and inclusion in creditor list. The tribunal found the matter barred by res judicata, noting previous determination that appellant's status as financial creditor was disputed. NCLAT emphasized that once Committee of Creditors decided to remove the Resolution Professional, inclusion of disputed creditor was improper. Additionally, money laundering proceedings against appellant precluded committee membership. The tribunal applied clean slate theory from Essar Steel judgment, preventing resurrection of past claims to avoid uncertainty for resolution applicants. Previous adjudicating authority order directing claim revision was set aside without liberty to re-approach. Case-Laws Insolvency and Bankruptcy Fri, 24 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446077