MediumNeutral
Announced Tue, 30 Jun · 24:30 IST

'Creditors can't seek claims beyond okayed resolution plan'

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Awaiting price reaction for this filing.

AI summary

The NCLT ruled that creditors cannot seek additional recoveries from group companies beyond an approved resolution plan. JM Financial ARC's attempt to recover more from KSK Mahanadi Power via guarantees was dismissed, as the tribunal found their admitted dues were already fully satisfied. The judgment sets a precedent that approved resolution plans are binding and prevent further claims outside their scope.