Case Note & Summary
The Employees Provident Fund Organisation filed a company appeal questioning an order dated 09.07.2024, which rejected its claim as delayed. The claim was submitted on 11.12.2023, almost six months after the approval of the Resolution Plan by the Committee of Creditors (CoC). The Tribunal found that the claim was belated and justified the Resolution Professional's rejection of it. The appeal was heard on 03.06.2026, and during the proceedings, the Appellant's counsel presented an order from the NCLT Bengaluru regarding the approval of a plan in a related matter. The Tribunal noted that since the plan had been approved, the issue of the belated claim no longer warranted consideration. The Appellant's counsel conceded that there was nothing left to decide, leading to the conclusion that the appeal was rendered infructuous. Consequently, the Tribunal dismissed the appeal.
Headnote
A) Company Law - Delayed Claims - Consideration of belated claims post-approval of Resolution Plan - Insolvency and Bankruptcy Code, 2016 - The Appellant's claim was rejected as it was submitted 528 days late after the approval of the Resolution Plan by the Committee of Creditors (CoC). The court held that the claim could not be considered due to its belated nature and the approval of the plan by the Adjudicating Authority, rendering the appeal infructuous (Paras 2-6).
Issue of Consideration
Whether the belated claim submitted after the approval of the Resolution Plan can be considered.
Final Decision
The Tribunal dismissed the appeal as infructuous due to the belated nature of the claim and the approval of the Resolution Plan.
Law Points
- Delayed claims
- Resolution Plan approval
- Infructuous appeals
