https://www.taxtmi.com/caselaws?id=758935 NCLAT Principal Bench dismissed appeal where creditor sought different payment method for pre-CIRP dues than specified in approved resolution plan. Corporate debtor's insolvency commenced 18.05.2017, resolution plan approved 12.12.2017 providing payment of appellant's pre-CIRP dues in 8 quarterly instalments from June 2022-March 2024. Tribunal held payments made post-CIRP commencement could only be appropriated towards current CIRP costs, not pre-CIRP dues. Resolution plan terms were binding on all stakeholders including appellant who hadn't filed claims during CIRP. Any deviation from resolution plan's payment schedule would constitute infraction and cannot be permitted. en-us Thu, 19 Sep 2024 00:00:00 +0530 Fri, 20 Sep 2024 11:57:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758935 NCLAT Principal Bench dismissed appeal where creditor sought different payment method for pre-CIRP dues than specified in approved resolution plan. Corporate debtor's insolvency commenced 18.05.2017, resolution plan approved 12.12.2017 providing payment of appellant's pre-CIRP dues in 8 quarterly instalments from June 2022-March 2024. Tribunal held payments made post-CIRP commencement could only be appropriated towards current CIRP costs, not pre-CIRP dues. Resolution plan terms were binding on all stakeholders including appellant who hadn't filed claims during CIRP. Any deviation from resolution plan's payment schedule would constitute infraction and cannot be permitted. Case-Laws IBC Thu, 19 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758935