Claims Filed Subsequent To Cut-Off Date Shall Be Dealt With As Per Resolution Plan Approved By Adjudicating Authority: NCLAT

The NCLAT ruled on the status of claims filed after the cut-off date for filing claims under the Insolvency and Bankruptcy Code (IBC), stating that such claims should be dealt with according to the resolution plan approved by the adjudicating authority. The case involved claims filed after the deadline for submissions in an insolvency process. The NCLAT emphasized that the resolution plan, once approved, dictates how such claims should be handled, regardless of when they were submitted. The ruling clarified the legal framework surrounding claims and the importance of adhering to the timelines established by the IBC process.