Connect Residuary Private Limited filed an appeal against the order dated 28th November, 2019, passed by the National Company Law Tribunal, Mumbai Bench, which dismissed their applications seeking admission of their claim in the Resolution Plan of Ricoh India Limited. The Adjudicating Authority had also approved the Resolution Plan. The appellant, Connect Residuary, claimed to be an operational creditor of Ricoh India Limited, seeking a claim of Rs. 25,52,08,897/-. The Resolution Professional (RP) rejected the claim, citing insufficient documentation and the fact that Ricoh India had already paid an amount exceeding the equipment's value, rendering the equipment untraceable. The RP also filed an avoidance application, alleging extortionate renting transactions between

Connect Residuary Private Limited filed an appeal against the order dated 28th November, 2019, passed by the National Company Law Tribunal, Mumbai Bench, which dismissed their applications seeking admission of their claim in the Resolution Plan of Ricoh India Limited. The Adjudicating Authority had also approved the Resolution Plan. The appellant, Connect Residuary, claimed to be an operational creditor of Ricoh India Limited, seeking a claim of Rs. 25,52,08,897/-. The Resolution Professional (RP) rejected the claim, citing insufficient documentation and the fact that Ricoh India had already paid an amount exceeding the equipment's value, rendering the equipment untraceable. The RP also filed an avoidance application, alleging extortionate renting transactions between