# In the matter of Ayush Agrawal Vs.  C.A Kannan Tiruvengadam and Anr CA(AT)(Insolvency) 606-2018

> NCLAT judgment dated 2019-09-18. Citation: TCN-2019-NCLAT-00268. This is a Company Appeal (AT) (Insolvency) No. 606 of 2018. The respondent, the successful…

- **Court:** NCLAT
- **Order date:** 18 Sept 2019
- **Citation:** TCN-2019-NCLAT-00268
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ayush-agrawal-vs-ca-kannan-tiruvengadam-and-anr-ca-0817b875

## Summary

### Background

This is a Company Appeal (AT) (Insolvency) No. 606 of 2018. The respondent, the successful resolution applicant, filed a summary chart of disbursement of funds to creditors. The appellant disputes the disbursement to operational creditors.

## Facts

The case involves a dispute over the disbursement of funds to creditors under a resolution plan. The respondent, as the successful resolution applicant, submitted a disbursement chart. The appellant, Ayush Agrawal, contested the disbursement percentage to operational creditors. The resolution plan initially stated a 70.80% disbursement to operational creditors. However, the respondents admitted that the actual disbursement to operational creditors (excluding workmen and employees) was 60.75%, suggesting a possible typographical error in the plan. The appellant sought clarification and proper disbursement according to the resolution plan.

## Issues and analysis

### Issue 1: Whether the operational creditors are entitled to 70.80% of their claim as initially stated in the …

**Ratio:** The principle of adhering to the terms of the approved resolution plan is paramount in

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**Reasoning:** The court acknowledged the discrepancy between the stated 70.80% and the actual 60.75%

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**Interpretation:** The court interpreted the situation as a potential error in the resolution

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**Application:** Given the respondents' admission and the actual disbursement to other

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## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…; +1 more
- **Appellants:** Ayush Ag…
- **Respondents:** C. A. Kannan…
- **Advocates:** Abhijeet…; Mangesh K…; +5 more

## Timeline

- **2018-01-01 — Company Appea…**: Company Appeal (AT)…
- **2019-09-18 — Order Da…**: The court issued an order directing the respondent to provide the appellant with 60.75%…

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