NCLT Rules Resolution Applicants Not Liable for Post-Plan Approval Costs Excluded from Corporate Debtor’s Financial Records [Read Order]

Once the Resolution Plan has been implemented, no additional obligations can be imposed beyond what was settled in the approved plan-NCLT
NCLT - Financial Records - Post-Plan Approval Costs Excluded -NCLT Rules - NCLT Mumbai - Taxscan

In a significant ruling, the National Company Law Tribunal ( NCLT ) of Mumbai bench has held that no liability can be imposed on the Successful Resolution Applicant after the approval of the plan by the Committee of Creditors if such liability is not identifiable from the financial records of the Corporate Debtor. EPFO (…

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