Creditors seeking duplicate recoveries from group companies after a resolution plan is finalized will be disappointed, the NCLT ruled. JM Financial ARC's bid to recover more from KSK Mahanadi Power via guarantees was dismissed, as the tribunal found their admitted dues were already fully satisfied. This landmark judgment clarifies that approved resolution plans are binding, preventing further claims outside their scope.
The NCLT has ruled that creditors cannot seek duplicate recoveries from group companies once a resolution plan is finalized. This decision dismissed JM Financial ARC's attempt to recover more from KSK Mahanadi Power, as their admitted dues were already fully satisfied. This…
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