https://www.taxtmi.com/caselaws?id=751256 NCLAT dismissed an appeal challenging NCLT's order that classified appellant as an operational creditor rather than financial creditor in an insolvency proceeding. NCLT had partly allowed respondent's application, treating the foreign award decree holder as other creditor. The appellant's total admitted claim of Rs.132,89,75,268 was allocated only Rs.1 lakh in the approved resolution plan. NCLAT held that since the resolution plan incorporating NCLT's contested order was already approved, there was no occasion to consider the challenge to the classification order, making the appeal infructuous. en-us Thu, 04 Apr 2024 00:00:00 +0530 Thu, 11 Apr 2024 15:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751256 NCLAT dismissed an appeal challenging NCLT's order that classified appellant as an operational creditor rather than financial creditor in an insolvency proceeding. NCLT had partly allowed respondent's application, treating the foreign award decree holder as other creditor. The appellant's total admitted claim of Rs.132,89,75,268 was allocated only Rs.1 lakh in the approved resolution plan. NCLAT held that since the resolution plan incorporating NCLT's contested order was already approved, there was no occasion to consider the challenge to the classification order, making the appeal infructuous. Case-Laws Insolvency and Bankruptcy Thu, 04 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751256