Claims cannot be admitted, after approval of Resolution Plan by CoC but before approval by Adjudicating Authority: NLCT-M

The National Company Law Tribunal, Mumbai (NCLT-M) while dealing with an application filed by a Homebuyer seeking directions to the Resolution Professional to condone the delay of 1 year, 11 months and 11 days in filing the claims, has held that any claims submitted after the approval of resolution plan by the Committee of Creditors (CoC) albeit, pending approval before the Adjudicating Authority, can’t be admitted. The NCLT-M, while noting that the claim had been filed near about the time when CoC had unanimously approved the Resolution plan, dismissed the application.