Distribution of the amount to the Financial Creditors as per the decision of the CoC cannot be permitted to be challenged – Andhra Pradesh State Financial Corporation Vs. Kalptaru Steel Rolling Mills Ltd. – NCLAT New Delhi
NCLAT held that learned counsel for the Resolution Professional has rightly placed reliance on the judgment of Hon’ble Supreme Court in “India Resurgence ARC Pvt. Ltd. vs. Amit Metaliks Ltd. & Anr. (2021) ibclaw.in 87 SC, where the Hon’ble Supreme Court has held that distribution of the amount to the Financial Creditors as per the decision of the CoC cannot be permitted to be challenged.