NCLAT Dismisses Manjeet Cotton CIRP Surplus Appeal

NCLAT upholds NCLT order directing Rs 1.42 crore CIRP surplus distribution to financial creditors under Section 53 IBC.
Tribunal rules surplus generated during CIRP period belongs to insolvency estate, not successful resolution applicant.
Court finds Resolution Plan silent on CIRP surplus treatment, making statutory distribution mechanism applicable.
Decision emphasizes sanctity of Resolution Plan terms and prevents unjust enrichment by resolution applicant.