Provident Fund Claims Filed After Approval Of Resolution Plan By Committee Of Creditors Cannot Be Admitted By Resolution Professional: NCLAT

The NCLAT (National Company Law Appellate Tribunal) ruled that provident fund claims filed after the Committee of Creditors (CoC) has approved the resolution plan cannot be admitted by the Resolution Professional (RP). The appellate tribunal emphasized the importance of adhering to the timelines stipulated under the IBC (Insolvency and Bankruptcy Code). Once the CoC has approved a resolution plan, it becomes binding on all stakeholders, and any claims arising thereafter cannot be entertained by the RP, ensuring finality to the resolution process.