NCLAT Upheld Implemented Resolution Plan Despite Objection to Contingent Claims

Western Coalfields Limited Vs Sai Wardha Power Generation Limited (NCLAT Chennai) The present company appeal before the National Company Law Appellate Tribunal, Chennai arose from proceedings initiated under Sections 30(6) and 31 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Regulation 39(4) of the CIRP Regulations, 2016. The resolution plan in question had been approved by the Adjudicating Authority (NCLT) on October 19, 2019 in IA No. 703/2019, filed in CP (IB) No. 275/7/HDB/2018. The Corporate Insolvency Resolution Process (CIRP) was initiated against the corporate debtor pur...