The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) has held that statutory obligations must be fulfilled during insolvency proceedings; however, this does not mean that statutory dues including provident fund claims can be submitted even after the Resolution Plan has been approved by the Committee of Creditors (CoC). Therefore, the Resolution Professional is not obligated to admit additional claims filed after the CoC’s approval of the plan.
Brief Facts:
On 06.12.2021,M/s Nirmal Lifestyle Realty Pvt. Ltd. (Corporate Debtor) was admitted to the Corporate Insolvency Resolution Process…
