The appeal was filed by the appellant, who had filed a claim as an Operational Creditor before the Resolution Professional, challenging the order dated 15.06.2022 by which the Resolution Plan of the Corporate Debtor was approved. The CIRP commenced on 16.07.2020, and the appellant filed a claim under Form-B for Rs. 286,86,05,909/-. The Resolution Professional rejected the claim on 19.11.2020, notionally admitting only Rs. 1. An I.A. was filed by the appellant on 08.01.2021, registered as I.A. No. 102 of 2022, before the Adjudicating Authority, which could only be registered on 01.04.2022. The application for approval of the resolution plan, I.A. No. 79/2022, was reserved on 29.03.2022 and again on 13.04.2022.
ABB India Ltd. filed an appeal challenging the approval of a resolution plan where their claim as an Operational Creditor was rejected. The CIRP commenced on 16.07.2020, and ABB India filed a claim for Rs. 286,86,05,909/-, which was rejected by the Resolution Professional on 19.11.2020, with a notional admission of Rs. 1. ABB India filed I.A. No. 102 of 2022 on 08.01.2021, which was registered on 01.04.2022. The plan approval application was reserved on 29.03.2022 and again on 13.04.2022. The appellant's claim was rejected because the plan approved on 15.06.2022 allocated nothing to operational creditors. The appellant did not diligently prosecute their application, which contributed to its rejection. Isolux Corsan India's application for impleadment was rejected.
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The appeal was filed by the appellant, who had filed a claim as an Operational Creditor before the Resolution Professional, challenging the order dated 15.06.2022 by which the Resolution Plan of the Corporate Debtor was approved. The CIRP commenced on 16.07.2020, and the appellant filed a claim under Form-B for Rs. 286,86,05,909/-. The Resolution Professional rejected the claim on 19.11.2020, notionally admitting only Rs. 1. An I.A. was filed by the appellant on 08.01.2021, registered as I.A. No. 102 of 2022, before the Adjudicating Authority, which could only be registered on 01.04.2022. The application for approval of the resolution plan, I.A. No. 79/2022, was reserved on 29.03.2022 and again on 13.04.2022.
ABB India Ltd. filed an appeal challenging the approval of a resolution plan where their claim as an Operational Creditor was rejected. The CIRP commenced on 16.07.2020, and ABB India filed a claim for Rs. 286,86,05,909/-, which was rejected by the Resolution Professional on 19.11.2020, with a notional admission of Rs. 1. ABB India filed I.A. No. 102 of 2022 on 08.01.2021, which was registered on 01.04.2022. The plan approval application was reserved on 29.03.2022 and again on 13.04.2022. The appellant's claim was rejected because the plan approved on 15.06.2022 allocated nothing to operational creditors. The appellant did not diligently prosecute their application, which contributed to its rejection. Isolux Corsan India's application for impleadment was rejected.
The Corporate…
The Resolution Professional rejected the…
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