https://www.taxtmi.com/caselaws?id=774734 NCLAT dismissed appeal seeking recall of approved resolution plan. Appellant failed to file additional claims within stipulated timeframe despite substantial elapsed time, showing lack of diligence. Tribunal held belated claims cannot be entertained as they would derail insolvency resolution process and prejudice other creditors. Following SC precedents in Essar Steel and RP Infrastructure cases, court emphasized time-bound resolution objective of IBC would be frustrated if new claims allowed after CoC approval. Appellant received more than minimum entitlement under Section 53 liquidation value, negating grounds for complaint. Resolution plan approved with 70.02% CoC voting cannot be reopened, ensuring finality to process. en-us Wed, 09 Jul 2025 00:00:00 +0530 Mon, 14 Jul 2025 08:36:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774734 NCLAT dismissed appeal seeking recall of approved resolution plan. Appellant failed to file additional claims within stipulated timeframe despite substantial elapsed time, showing lack of diligence. Tribunal held belated claims cannot be entertained as they would derail insolvency resolution process and prejudice other creditors. Following SC precedents in Essar Steel and RP Infrastructure cases, court emphasized time-bound resolution objective of IBC would be frustrated if new claims allowed after CoC approval. Appellant received more than minimum entitlement under Section 53 liquidation value, negating grounds for complaint. Resolution plan approved with 70.02% CoC voting cannot be reopened, ensuring finality to process. Case-Laws IBC Wed, 09 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774734