After Resolution Plan has already been submitted, no claims can be accepted- G.V. Suresh Kumar & Ors. Vs. Kapil Dev Taneja RP in CIRP of M/s Apex Drugs Ltd.-NCLAT

NCLAT held that the Appellants are employees of the Corporate Debtor and did not know about the Corporate Insolvency Resolution Process. Appeal claims that the Appellants continued and still continue to be workmen and were continuously present in the premises on working days. We do not agree with the contention of the learned Counsel for the Appellant. When Public Notice was issued, whoever is eligible and wants to file claim, can file the claim with IRP/RP in prescribed form. After Resolution Plan has already been submitted, such claims cannot be accepted. The process cannot be reversed in a manner that clock is set back. Such actions can lead the Company into liquidation.

After Resolution Plan has already been submitted, no claims can be accepted- G.V. Suresh Kumar & Ors. Vs. Kapil Dev Taneja RP in CIRP of M/s Apex Drugs Ltd.-NCLAT Read Post »