Case Law Details
Case Name : Mr Rajnish Jain Vs Manoj Kumar Singh – I.R.P. (NCLAT, Delhi)
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NCLAT
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Mr Rajnish Jain Vs Manoj Kumar Singh – I.R.P. (NCLAT, Delhi)
Resolution Professional or Committee of Creditors cannot reclassify status of a creditor from Financial to Operational Creditor
NCLAT held that during CIRP, the IRP is authorised to collate the claims, and based on that he is empowered to constitute the Committee of Creditors. We hold that the Resolution Professional may add to existing claims of claimants already received, or admit or reject further Claims and update list of Creditors. But after categorisation of a claim by the IRP/Resolution Professional we hold that they cannot ...
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do a fc can assign his debt to another outisder let say a nbfc when already coc has approved the plan and submitted to NCLT for approval?