Sorabh Bose vs Pankaj Narang
- CitationComp. App. (AT) (Ins) No. 1525 of 2024
Ratio decidendi
The rule this decision rests on
No claim may be entertained by the Adjudicating Authority after it has approved a resolution plan under the Insolvency and Bankruptcy Code, 2016; any action taken by the Resolution Applicant (SRA) must accord with the clauses of the approved resolution plan.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
NATIONAL COMPANY LAW APPELLATE TRIBUNAL PRINCIPAL BENCH, NEW DELHI Comp. App. (AT) (Ins) No. 1525 of 2024 & I.A. No. 5432 of 2024 IN THE MATTER OF: Sorabh Bose ...Appellants Versus Pankaj Narang & Ors. ...Respondents
Present: For Appellant : Mr. Mahesh Kumar, Mr. Shubham Gupta, Advocates.
For Respondents : Mr. Arvind Nayyar Sr. Advocate with Mr. Chitranshul Sinha, Mr. Harish Taneja and Ms. Parul, Advocates for R1. Ms. Vatsala Kak, Mr. Sumesh Dhawan, Mr. Shaurya Shyam and Mr. Sagar Thakkar, Advocates for R3.
ORDER
(Hybrid Mode)
27.08.2024: This appeal has been filed against the order dated
02.05.2024 by which IA No. 406 of 2024 filed by the appellant has been
rejected. The appellant has filed the application directing the SRA to accept the
claim of the applicant. In the present case the Adjudicating Authority has
already approved the resolution plan on 17.04.2023 and the present
application was filed by the applicant after approval of resolution plan by
Adjudicating Authority. No claim can be entertained after approval of the plan
by Adjudicating Authority. Any action which SRA has taken must be in
accordance with the clauses of the resolution plan.
Cont'd.../-
2. Hence, we are of the view that no error has been committed by the
Adjudicating Authority in rejecting IA No. 406 of 2024.
Appeal is dismissed accordingly.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical)
[Arun Baroka] Member (Technical) harleen/NN
Comp. App. (AT) (Ins) No. 1525 of 2024 & I.A. No. 5432 of 2024 2 of 2
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