*Important Judgment* *Whether period of 14 days as mentioned in Section 11A(3) of IBC, is mandatory or directory? | Whether in a plan approved u/s 54K of IBC (PPIRP), dissenting Financial Creditor has to be paid the amount in accordance with Section 30 (2) (b) of the IBC?* In this Important judgment, the Hon’ble NCLAT has clarified the following important issues: (i) Whether period of 14 days as referred to in Section 11A(3) of the IBC is a ‘directory’? (ii) Whether an Application under Section 54C is filed even after 14 days of filing of Section 7 Application, the Adjudicating Authority can proceed to decide Section 54C Application first? (iii) Whether the payment to the dissenting Financial Creditor in the Resolution Plan (under PPIRP) is in accordance with Section 30 (2) (b) of the IBC? (iv) Is Adjudicating Authority expected to go into account and investigate if and in which category an application falls under Section 7 examining Notifications under the MSME Act? Read here: https://ibclaw.in/bank-of-baroda-vs-shree-rajashthan-syntex-ltd-nclat-new-delhi/