2026 (8) TMI 23

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....udgement and order dated 15.12.2025 passed by the Ld. National Company Tribunal, Mumbai Bench - I in IA (IBC) (Plan) 65 of 2024 in CP(IB) NO. 530 of 2020 ("Impugned Order") whereby the Resolution Plan dated 22.04.2024 read with Financial Proposal dated 22.04.2024 and Clarificatory Addendum dated 17.05.2024 submitted by Respondent No.3 in respect of Respondent No. I ("Corporate Debtor") has been approved under Section 30(6) and 31(1) of the Insolvency and Bankruptcy Code, 2016 ("IBC"). 2. The Appellant is an Operational Creditor / Licensor of the Corporate Debtor. The Corporate Debtor was granted an Internet Service Provider ("ISP") license agreement no. 820-4/98/LR dated 18.11.1998 for establishing and operating internet services in Mumb....

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....ondent No. 2 which it is alleged had resulted in grave miscarriage of justice as out of a total sum of Rs.  5,94,995.93/- Lakhs towards statutory dues as owed by the Corporate Debtor to the Appellant only a meagre sum of Rs.  10 lakhs have been provided for and approved in the resolution plan. 7. It is argued the Impugned Order records an allocation of only Rs.  10 Lakhs for government and statutory authorities, out of a total resolution plan of Rs.  900 Crore, whereas the admitted claims of the DoT and Income Tax Department are to the aggregate Rs.  17,919.74/- lakhs, including substantial claims of the DoT and Income Tax Department. Secured financial creditors receive about Rs.  808.55 Crore and unsecured ....

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....tment given to it in admission of its claim(s) as well as in its disbursement under the waterfall mechanism. It is submitted despite the claim being admitted to an extent of Rs. 179 crores approximately, only an amount of Rs. 10 lakh is given towards government dues. It is submitted the amount of Rs. 459 crores due to the Department of Telecommunication is completely ignored. Heard. 10. We have perused the impugned order. There is no denial to the fact the appellant was an operational creditor and on 31st August, 2023 had filed a cumulative claim (Form B) of an amount of Rs. 469.09 crores with the Resolution Professional. On 25.09.2023 the Resolution Professional vide his email had intimated the appellant its claim of Rs. 469.09 crores h....

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....Ors Company Appeal (AT)(Insolvency) No.59/2022 this Tribunal held:- "19. It is thus clear that after the RP had finally informed the Appellant vide email dated 02.09.2020 that only an amount of Rs. 1,13,63,918/- was admitted, the Appellant did not take any further action about either preferring an appeal before the Adjudicating Authority on the matter of admission of reduced claim, nor took up the matter with the RP, and it is therefore logical and safe to presume that he accepted the admission of his claim at Rs. 1,13,63,918/-. We are, therefore, of the clear opinion that once the resolution plan has been approved vide the Impugned Order the issue of any claim could not be agitated or brought up at this late stage. While holding t....