https://www.taxtmi.com/caselaws?id=446573 Claims filed in the corporate insolvency resolution process as operational debt through a vendor/sub-contractor could not later be reclassified as workmen's dues to claim parity with directly employed workmen. The admitted claims had been submitted in Form B and treated throughout the process as operational creditors, while workmen's dues were separately recognised and given distinct treatment in the resolution plan. The insolvency framework permits differential treatment between creditor classes, and workmen's dues rank differently from operational debt. Once a claim is admitted in one category, it cannot be transposed into another at the stage of challenge to approval of the resolution plan. The differential treatment in the approved plan was therefore valid. en-us Tue, 05 Dec 2023 00:00:00 +0530 Wed, 06 Dec 2023 12:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446573 Claims filed in the corporate insolvency resolution process as operational debt through a vendor/sub-contractor could not later be reclassified as workmen's dues to claim parity with directly employed workmen. The admitted claims had been submitted in Form B and treated throughout the process as operational creditors, while workmen's dues were separately recognised and given distinct treatment in the resolution plan. The insolvency framework permits differential treatment between creditor classes, and workmen's dues rank differently from operational debt. Once a claim is admitted in one category, it cannot be transposed into another at the stage of challenge to approval of the resolution plan. The differential treatment in the approved plan was therefore valid. Case-Laws Insolvency and Bankruptcy Tue, 05 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446573