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Today on 11th September 2023, Hon’ble Supreme Court of India has upheld Hon’ble NCLAT Judgement dated 31/07/2021 (Company Appeal (AT) (Ins)-1050/2020 - Mukul Kumar, RP KST Infrastructure Ltd Vs RPS Infrastructure Ltd) which held that "Delayed claim filed after resolution plan is approved by COC, cannot be admitted at a belated stage"

Hon’ble Supreme Court also held that IBC is a time bound process and the mere fact that the Adjudicating Authority has yet not approved the plan does not imply that the plan can go back forth, thereby making the CIRP an endless process. Thus, SC found difficult to unleash hydra-headed monster of undecided claims on the resolution applicant.

Further, Hon’ble Supreme Court dismissed the appeal preferred by RPS Infrastructure Ltd in favour of Mukul Kumar, RP KST Infrastructure Ltd. Copy of the Judgement is attached.

Case Title:- RPS Infrastructure Ltd Vs Mukul Kumar & Anr - Civil Appeal No. 5590 of 2021
https://main.sci.gov.in/supremecourt/2021/20120/20120_2021_2_1502_46783_Judgement_11-Sep-2023.pdf

main.sci.gov.in

Congratulations to our Partner Mr. Mukul Kumar

Congratulations to our Partner Mr. Mukul Kumar

Happy Janmashtami

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Know more about compliances of Corporate Debtor under Insolvency and Bankruptcy Code (IBC). Get expert advice from registered insolvency professional.
For more information:
Contact us- https://www.lansips.in
Email- [email protected]
Telephone- 0124-4305962; 3536949