Once the claim of a creditor is taken into consideration in Resolution Plan providing them same treatment as has been given to the other similarly situated Creditors, the Creditor, thereafter cannot take the benefit of Sec. 60(6) nor they can take benefit of arbitration proceeding for the same claim- M/s. Kotak Mahindra Prime Ltd. Vs. Mr. Bijay Murmuria & Ors.-NCLAT
As per the Sec. 60(6), it is always open to a Creditor to proceed with the suit or arbitration proceeding, if pending, on completion of the Moratorium. However, once a Creditor/Financial Creditor or Operational Creditor files its claim before the Resolution Professional and the same is taken into consideration by the Successful Resolution Applicant and while submitting the plan or the revised plan providing them same treatment as has been given to the other similarly situated Financial Creditors/Operational Creditors, the Financial Creditors/Operational Creditors, thereafter cannot take the benefit of sub-section (6) of Section 60 of the Code nor they can pray to pursue the suit or arbitration proceeding or to file a fresh suit or arbitration proceeding for the same claim.
