# In the matter of Dream Procon Pvt. Ltd. {I.A- 4954-2022 in IB-1771(ND) 2018}

> NCLT judgment dated 2023-08-11. Citation: TCN-2023-NCLT-02079. The case involves an application filed by Mr. Rahul Jain, seeking directions to the Resolution…

- **Court:** NCLT
- **Order date:** 11 Aug 2023
- **Citation:** TCN-2023-NCLT-02079
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/dream-procon-pvt-ltd-ia-4954-2022-in-ib-1771nd-2018-07f7d349

## Summary

### Background

The case involves an application filed by Mr. Rahul Jain, seeking directions to the Resolution Professional to admit his claim as a Financial Creditor in a class. The Committee of Creditors (CoC) had already approved the Resolution Plan in its 11th meeting held on 07.05.2021 with 90.66% votes. Mr. Jain filed his claim on 19.09.2022, after the approval of the Resolution Plan by the CoC.

## Facts

Mr. Rahul Jain filed an application seeking directions to the Resolution Professional to admit his claim as a Financial Creditor. The Committee of Creditors (CoC) approved the Resolution Plan on 07.05.2021 with 90.66% votes. Mr. Jain filed his claim on 19.09.2022, after the CoC's approval. The Resolution Professional verified the Corporate Debtor's books and reflected the unit related to the claim in the list of flats. The NCLAT in Puneet Kaur versus M/s. K.V. Developers Private Limited held that claims filed after the approval of the Resolution Plan cannot be admitted. The relevance of the fact that the claim was filed after the approval of the resolution plan is that it is the basis for the rejection of the application, as per the NCLAT's judgment in Puneet Kaur's

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## Issues and analysis

### Issue 1: Whether the application filed by Mr. Rahul Jain, seeking directions to the Resolution Professional …

**Ratio:** Claims filed after the approval of the Resolution Plan by the Committee of Creditors

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**Reasoning:** The court relied on the judgment passed by the NCLAT in the case of Puneet Kaur versus

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**Interpretation:** The NCLAT's judgment in Puneet Kaur's case establishes a clear legal principle

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**Application:** In this case, Mr. Rahul Jain filed his claim after the Resolution Plan was

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## Parties

- **Judges:** BACHU VENKAT…; ATUL CHAT…
- **Appellants:** Rahul…
- **Respondents:** M/s Dream Procon…; Nilesh S…
- **Advocates:** Shivam…; Varsha Ba…; +1 more

## Timeline

- **2021-05-07 — CoC Meet…**: The Committee of Creditors approved the Resolution Plan with 90.66% votes in its 11th…
- **2022-06-01 — NCLAT Jud…**: NCLAT passed judgment in Puneet Kaur versus M/s. K.V. Developers Private Limited, stating…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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