Where a Claimant whose claim has been rejected, has not challenged the said rejection, he would not be having any locus to put a challenge to the order of approval of Resolution Plan – Malay Bhadra Deputy Commissioner of Income-tax Vs. Mr. CA Jasin Jose RP/Monitoring Agent of Orma Marble Palace Pvt. Ltd. and Anr. – NCLAT Chennai
Hon’ble NCLAT holds that the appellant has been determined as to be an unsuccessful Applicant/Claimant. It is a settled law that where an Applicant/Claimant whose claim has been rejected, has not challenged the said rejection, he would not be having any locus to put a challenge to the order of approval of Resolution Plan and thus the appeal at the behest of the Appellant, challenging the order of approval of Resolution Plan would not be maintainable. For the aforesaid reason, the Company Appeal would stand dismissed holding it to be not maintainable.