There can be difference in payment to the secured and unsecured creditors in a Resolution Plan approved as per the commercial wisdom of the CoC – Ganesh Ores Pvt. Ltd. Vs. Vijaykumar V. Iyer & Anr. – NCLAT New Delhi

In this case, the Appellant submits that the distribution is unjust as unsecured creditors has been allocated less amount than secured creditors. NCLAT held that there can be difference in payment to the secured and unsecured creditors in the plan approved as per the commercial wisdom of the CoC. Appeal is dismissed.

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If any Public depositor applies showing due of the debt claiming itself as operational creditor and the Resolution Professional or the Tribunal do not accept the claim on the ground that they are not financial creditor, we allow the appellant to raise the question before the Tribunal and if any adverse decision is given by the Tribunal, it will be open to the appellant to raise the issue before NCLAT- Hind Motors India Ltd. Vs. Adjudicating Authority NCLT, Chandigarh – NCLAT New Delhi

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