Creditor having not taken any steps for challenging non-admission of the claim at the relevant time, it is not open to raise any grievance for non-allocation of any amount in the Resolution Plan – State Tax Officer Vs. Ricoh India Ltd. and Ors. – NCLAT New Delhi

The Hon’ble NCLAT observed that the list of creditors mentioned the claim of the Appellant as not admitted but no steps were taken by the Appellant challenging non-admission of the claim. As noted above, SRA has also prepared the Resolution Plan treating the claim of statutory authorities as ‘nil’. The Hon’ble Appellate Tribunal, thus, does not find any error in the order of the Adjudicating Authority dated 28.11.2019 approving the Resolution Plan.

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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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