Section 3(10) of IBC itself shows that decree holder be considered as creditor under Section 3(10) of IBC – Suryalakshmi Cotton Mills Ltd. Vs. Mr. Kalavakolanu Murali Krishna Prasad, RP – NCLT Hyderabad Bench
January 9, 2024
Hon’ble NCLT Hyderabad Bench observes that: (i) City Civil Court vide decree in OS.No.72/2006, directed M/s.Rajvir Industries Limited, to pay an amount of Rs.5,30,77,291/- along with interest. (ii) The applicant has filed its claim as “other creditors” in Form-F under regulation 9A of the IBBI CIRP Regulations, 2016 and the same is in order besides in conformity with Section 3(10) of the IB Code. Therefore, accepting the claim for Rs.1/- only, on the ground that the claim is not crystallized is unsustainable. (iii) The Bench satisfies with the submissions made by the Applicant, hence hereby holds that claim lodged by applicant is admissible under law.