30-Sep-2022 11:25 PM
What will happen to disputed claims in CIRP proceedings, whether it will borne by the new management
The disputed claims will be borne by the new management if it has been included in the resolution plan. The Supreme Court in Essar Steel allowed a resolution plan to admit disputed claims at the notional value of INR 1, which would have to be paid contingent to the outcome of proceedings after the value of the claim has been determined by the appropriate forum.
Answer given by Shubhamm Sir at 13-Oct-2022 06:32 PM