https://www.taxtmi.com/caselaws?id=313494 The NCLAT Chennai dismissed an operational creditor's application seeking payment for services rendered during CIRP period. The appellant filed application under Section 60(5) on 01.06.2019 while resolution plan approval proceedings were ongoing, without seeking stay. The resolution plan was approved on 27.06.2019 and later by SC on 28.02.2020, and has been implemented. The tribunal held that once the resolution plan was approved, the Section 60(5) application lost maintainability as new appeal rights under Section 61(3) became available, which the appellant failed to pursue. Appeal dismissed for lack of merit. en-us Thu, 11 Jan 2024 00:00:00 +0530 Wed, 17 Apr 2024 17:34:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313494 The NCLAT Chennai dismissed an operational creditor's application seeking payment for services rendered during CIRP period. The appellant filed application under Section 60(5) on 01.06.2019 while resolution plan approval proceedings were ongoing, without seeking stay. The resolution plan was approved on 27.06.2019 and later by SC on 28.02.2020, and has been implemented. The tribunal held that once the resolution plan was approved, the Section 60(5) application lost maintainability as new appeal rights under Section 61(3) became available, which the appellant failed to pursue. Appeal dismissed for lack of merit. Case-Laws Insolvency and Bankruptcy Thu, 11 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313494