Case Note & Summary
The appeal was filed by the Union of India through the Department of Telecommunications against the approval of a resolution plan for Rolta India Limited, which was passed by the National Company Law Tribunal on 15.12.2025. The Appellant, an operational creditor, had previously granted an ISP license to the Corporate Debtor, which defaulted on license fee payments, leading to a claim of Rs. 469.09 Crore. The Resolution Professional categorized this claim as 'not acceptable but contingent' based on an interim stay order from TDSAT. The Appellant argued that the resolution plan unfairly allocated only Rs. 10 Lakhs for statutory dues against a total claim of Rs. 17,919.74 Lakhs. The Tribunal noted that the Appellant did not challenge the Resolution Professional's decision regarding the claim and instead pursued a stay modification before TDSAT, which was not granted. The Tribunal emphasized that once the resolution plan was approved and implemented, the Appellant could not raise old issues or claims. The appeal was dismissed as without merit, reinforcing the principle that approved resolution plans should not be disturbed by unagitated claims. The decision was finalized on 30-07-2026.
Headnote
A) Insolvency Law - Operational Creditor Rights - Claim Rejection - Insolvency and Bankruptcy Code, 2016, Sections 30(6), 31(1) - The Appellant's claim was categorized as contingent by the Resolution Professional, which was not challenged before the Adjudicating Authority, leading to the dismissal of the appeal post-approval of the resolution plan. Held that the Appellant could not raise issues regarding its claim after the resolution plan was implemented (Paras 10-15).
Issue of Consideration
Whether the appeal by the Union of India against the approval of the resolution plan was maintainable given the rejection of its claim by the Resolution Professional.
Final Decision
The appeal was dismissed as without merit, reinforcing that the Appellant could not raise issues regarding its claim after the resolution plan was approved and implemented.
Law Points
- Insolvency and Bankruptcy
- Operational Creditor Rights
- Resolution Plan Approval
- Claim Rejection
- Waterfall Mechanism
