2020 (7) TMI 237

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....Dr. Ashok Kumar Mishra, Technical Member For the Appellant : Dhruba Mukherjee and Kumar Anurag Singh, Advs. For the Respondent : Anup Kumar, Adv. ORDER 1. The Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, Kolkata rejected claims made by the Appellant - 'M/s Prashant Properties Pvt. Ltd.' on the ground that the Resolution Plan had already been approved on 8-4-20....

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....was not cancelled while approving the Resolution Plan. The Adjudicating Authority, apart from holding that it was not a case of undervalued or preferential transaction, held that the application preferred by the Appellant was not maintainable as the Adjudicating Authority had no jurisdiction to determine any issue relating to the Resolution Plan after the same had been approved. 3. Learned counse....

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....erational Creditor could not seek intervention after approval of Resolution Plan by the Adjudicating Authority. Admittedly, the Resolution Plan was approved by the Adjudicating Authority on 8-4-2019 and in terms of provision embodied in Section 31(1) of the I&B Code the approved Resolution Plan is binding on all stakeholders involved in the Resolution Plan including the 'Creditors'. It is ....