Extinguishment of claim of creditors after approval of Resolution Plan by CoC?

Puneet Kaur Vs K V Developers Private Limited (NCLAT Delhi)

Whether after approval of the Resolution Plan  by Committee of Creditors (CoC), the claim of the creditors stood extinguished?

Hon’ble National Company Law Appellate Tribunal, Principal Bench, New Delhi in Company Appeal No. 390/2022 dealt with following important question law;

Whether after approval of the Resolution Plan on by Committee of Creditors (CoC), the claim of the creditors stood extinguished?

In aforementioned appeal, submission raised on behalf of Resolution Professional as well as Successful Resolution Applicant is that after approval of the Resolution Plan by CoC, the claim of all the creditors stood extinguished, which submission is refuted by the learned Counsel for the Creditors.

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