The National Company Law Appellate Tribunal (NCLAT) at Delhi has dismissed the challenge by Dharampal Premchand Ltd, the company behind the BABA brand, to reopen Trimurti Foodtech Ltd’s approved insolvency resolution plan over the treatment of its disputed ₹6.81 crore claim.
A bench of Chairperson Justice Ashok Bhushan and Technical Member Indevar Pandey held that Dharampal Premchand’s claim was never treated as an admitted, crystallised operational debt but was consistently classified as contingent because of reciprocal contractual disputes and counterclaims raised by the corporate debtor.
“The Resolution Professional never treated the Appellant as an Operational Creditor having an unconditional and crystallized payable debt. The…