Facts & Background:

• M/s. RPS Infrastructure Ltd., a company engaged in real estate development, entered into an agreement with M/s KST Infrastructure Pvt. Ltd. (the Corporate Debtor) to develop land into a residential group housing complex at Faridabad, Haryana. The Corporate Debtor was the Appellant.
• Mukul Kumar, the Resolution Professional, and others appointed for the Corporate Debtor were the respondents, while Respondent No. 2 was the successful resolution applicant.
• An agreement was executed on 02.08.2006 between the Appellant and the corporate debtor for land development in Faridabad. The Appellant, aggrieved by the Corporate Debtor’s conduct, sought arbitration on 02.05.2011.
• The arbitral proceedings culminated in an award dated 01.08.2016 in favor of the appellant, directing the Corporate Debtor to apply for the transfer of requisite licenses and awarding a monetary claim.
• Aggrieved by the award, the Corporate Debtor filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, before the A.D.J. (Special Commercial Court), Gurugram, on 26.09.2016. The appellant filed execution proceedings.
• The A.D.J. (Special Commercial Court), Gurugram disposed of the Section 34 petition on 25.04.2019, and the award was upheld with modifications. An appeal under Section 37 of the Arbitration Act against the judgment of the District Judge remains pending.
• The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 27.03.2019 before the National Company Law Tribunal (NCLT) regarding multiple real estate projects, and the Interim Resolution Professional issued a public announcement inviting claims.
• The Appellant submitted its claim on 19.08.2020, citing an outstanding amount under the arbitral award, but Resolution Professional rejected it on 25.08.2020, citing the belated submission of the claim beyond the 90-day limit from the initiation of CIRP.
• The Appellant filed an application under Section 60(5) of the Insolvency and Bankruptcy Code (IBC) before the NCLT, seeking directions for the consideration of its claim, which was granted by the NCLT on 03.11.2020.
• Respondent No. 1 appealed the NCLT order before the National Company Law Appellate Tribunal (NCLAT), which rendered the decision adverse to the appellant on 30.07.2021, leading the appellant to file the present appeal before the Supreme Court.
  

Main Issue:

• Whether the Appellant’s claim arising from an arbitral award that remained pending in appeal under Section 37 of the Arbitration & Conciliation Act, 1996 was liable for inclusion after CoC approved the resolution plan? (Paragraph 16)