Case Note & Summary
The appeal was filed by Amit Mehra against an order dated 09.04.2026 from the National Company Law Tribunal, New Delhi, which rejected his application for accepting a belated claim after the approval of a resolution plan on 13.07.2024. The appellant contended that his claim was not accepted despite ongoing EMI payments. However, the tribunal clarified that once the resolution plan is approved, all claims are extinguished, and no claims can be filed thereafter. The respondents supported this position by referencing a previous decision in 'Parul Kapil' Vs. 'Sandeep Goel & Anr.' which addressed similar issues. The tribunal found no valid grounds to interfere with the lower court's order and dismissed the appeal.
Headnote
A) Insolvency Law - Claim Extinguishment - Claims after Approval of Resolution Plan - Insolvency and Bankruptcy Code, 2016 - Once a resolution plan is approved by the adjudicating authority, all claims are extinguished, and no further claims can be filed. The court upheld the dismissal of the appellant's application for a belated claim as it was filed post-approval of the resolution plan. Held that the appeal lacked merit (Paras 4-6).
Issue of Consideration
Whether the appellant's claim could be accepted after the approval of the resolution plan.
Final Decision
The tribunal dismissed the appeal, affirming the lower court's order rejecting the belated claim application.
Law Points
- Insolvency resolution
- claim extinguishment
- appeal dismissal
