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Cost being in nature of damages wouldn't be covered in definition of claim under Bankruptcy Code

November 5, 2018[2018] 98 480 (NCLT-Chd.)

IBC: Claim in nature of breach of contract and claim regarding material inventory cost, escalation cost, overstay cost, watch and ward, being in nature of damages are not covered by definition of 'claim' under section 3(6)

IBC: Where resolution plan considered by CoC did not contravene any of provisions of law for time being in force and that resolution applicant had submitted an affidavit confirming its eligibility to submit resolution plan under section 29A and contents of said affidavit were in order, said resolution plan considered by CoC was to be approved by Adjudicating Authority

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