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March 1, 2025 at 06:28 AM
*NCLAT Judgment*
1. Unsecured Dissenting Financial Creditor cannot challenge approved Resolution Plan if payment is in accordance with Section 30(2)(b) of IBC, even if homebuyers are being allotted units
2. If Resolution Plan is approved by CoC and an IA for approval is filed by RP within 330 days, it is considered within CIRP timeline period, even if the NCLT approves it beyond 330 days
_Mr. Justice Ashok Bhushan (Chairperson) and Mr. Barun Mitra (Technical Member)_
Case Citation: (2025) ibclaw.in 154 NCLAT
Read here IBC Laws summary: https://ibclaw.in/dky-finance-pvt-ltd-and-ors-vs-mr-sanjay-garg-nclat-new-delhi/