NTPC LTD. (SIMHADRI PROJECT) versus RAJIV CHAKRABORTY

NTPC LTD. (SIMHADRI PROJECT) versus RAJIV CHAKRABORTY

Because the appellant's claim was still pending adjudication before the Arbitrator, it was correctly recorded in the Information Memorandum under 'List of Other Creditor Claims' rather than under 'Claims of Operational Creditors'; the Information Memorandum does not adjudicate claims and the Resolution Professional cannot accept or disallow claims, which remain subject to adjudication and to be dealt with in the final resolution plan.

Parties
Appellant: NTPC LTD. (SIMHADRI PROJECT); Respondent: RAJIV CHAKRABORTY
Jurisdiction
India
Judgment Date
16 November 2020
Procedural Posture
Civil Appeal / Disposed by Supreme Court (final Disposal)
Outcome
Civil appeal disposed of
Legal Topics
Information Memorandum, Operational Creditors, Other Creditors, Resolution Professional, Resolution Plan, Adjudication Before Arbitrator
Insolvency and Bankruptcy Information Memorandum Operational Creditors Other Creditors Resolution Professional Resolution Plan Adjudication Before Arbitrator

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Legal principles 3 Party arguments 2
Sign in to unlock

Parties

NTPC LTD. (SIMHADRI PROJECT)

Appellant

RAJIV CHAKRABORTY

Respondent

Procedural Posture

Civil Appeal / Disposed by Supreme Court (final Disposal)

Legal Issues

  1. 1 Whether the appellant's claim should have been reflected under 'Claims of Operational Creditors' in the Information Memorandum prepared by the Resolution Professional

Ratio Decidendi

Because the appellant's claim was still pending adjudication before the Arbitrator, it was correctly recorded in the Information Memorandum under 'List of Other Creditor Claims' rather than under 'Claims of Operational Creditors'; the Information Memorandum does not adjudicate claims and the Resolution Professional cannot accept or disallow claims, which remain subject to adjudication and to be dealt with in the final resolution plan.

Court Disposition

Civil appeal disposed of

Orders

  • Civil appeal is disposed of.
  • The interim order passed earlier stands vacated.