Case Law Analysis
|National Company Law Appellate Tribunal
Section 53 IBC | CIRP-Generated Surplus Must Follow Waterfall Distribution Even If Silent in Resolution Plan : NCLAT
NCLAT rules that surplus cash flows generated during CIRP, if not explicitly addressed in the approved Resolution Plan, must be distributed among financial creditors as per the Section 53 waterfall mechanism. This binding precedent reinforces the sanctity of statutory distribution over contractual silence in insolvency proceedings.