Economic TimesLean R·
'Creditors can't seek claims beyond okayed resolution plan'
Creditors seeking duplicate recoveries from group companies after a resolution plan is finalized will be disappointed, the NCLT ruled. JM Financial ARC's bid to recover more from KSK Mahanadi Power via guarantees was dismissed, as the tribunal found their admitted dues were already fully satisfied. This landmark judgment clarifies that approved resolution plans are binding, preventing further claims outside their scope.
Read at Economic Times →
