https://www.taxtmi.com/caselaws?id=753057 NCLAT dismissed appeal challenging resolution plan approval. Corporate debtor was struck off from ROC register but later revived, with NCLAT holding that striking off cannot wash away financial liabilities and CIRP proceedings remain valid. Tribunal rejected appellant's claims filed post-CoC approval of resolution plan as time-barred. Settlement agreements between parties were nullified by financial creditor, maintaining corporate debtor's liability. NCLAT ruled that once Section 7 application is admitted based on debt and default, liability cannot be disputed during plan approval stage. Resolution plan approval upheld. en-us Wed, 22 May 2024 00:00:00 +0530 Fri, 24 May 2024 07:06:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753057 NCLAT dismissed appeal challenging resolution plan approval. Corporate debtor was struck off from ROC register but later revived, with NCLAT holding that striking off cannot wash away financial liabilities and CIRP proceedings remain valid. Tribunal rejected appellant's claims filed post-CoC approval of resolution plan as time-barred. Settlement agreements between parties were nullified by financial creditor, maintaining corporate debtor's liability. NCLAT ruled that once Section 7 application is admitted based on debt and default, liability cannot be disputed during plan approval stage. Resolution plan approval upheld. Case-Laws Insolvency and Bankruptcy Wed, 22 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753057