2020 (10) TMI 1319 - Tri - Companies Law

Seeking admission of claims filed by the claimants after expiry of last date of submission of claims as per the public announcement in Form-B - seeking modification of the list of stakeholders filed with the Hon ble NCLT - HELD THAT - The applicant shall implead the parties/claimants whose claims are filed belatedly and the delay thereof is sought to be condoned in the instant IA. The applicant shall file an amended memo of parties by impleading the said parties within one week. On filing the same, let notices be issued to the said respondents as per amended memo of parties for 02.12.2020 and applicant shall collect the notices from the Registry and send the same by speed post immediately to the respondents at their registered addresses attaching therewith copy of the application and the entire paper book and the copy of this order - List on 02.12.2020. Service of notice to respondents - HELD THAT - Though notices were directed to be served on 09.09.2020 but the applicant failed to serve the notices to the respondents. At the request of the applicant s counsel issue fresh notices to the respondents in the IA for 10.11.2020 and applicant shall collect the notices from the Registry and send the same by speed post immediately to the respondents at their registered addresses attaching therewith copy of the application and the entire paper book and the copy of this order. Reply be filed within one week after receipt of notice with a copy in advance to the counsel opposite - List on 10.11.2020.

Summary

Issues: Urgent hearing of IA No. 433/2020, Admission of belated claims, Setting aside ex-parte order

Issue 1: Urgent hearing of IA No. 433/2020
The Tribunal allowed IA No. 432/2020 seeking urgent hearing of IA No. 433/2020. The applicant was represented by Ms. Salina Chalana, Mr. Manish Jain, and Ms. Divya Sharma, while the respondent was represented by Mr. Yogesh Goyal, Mr. D.K. Singal, and Mr. Rabinder Singh Bhatia. The Liquidator, represented by Mr. G.S. Sarin, sought admission of claims filed after the submission deadline and requested modification of the stakeholders' list.

Issue 2: Admission of belated claims
The Liquidator filed IA No. 433/2020 under Section 60(5) of IBC seeking admission of claims submitted after the deadline. The Tribunal directed the applicant to implead the belated claimants and file an amended memo of parties within a week. Notices were to be issued to the respondents for a specified date, and the impleaded parties were given a chance to respond within two weeks. The applicant was required to provide reasons for the delay in filing claims within two weeks.

Issue 3: Setting aside ex-parte order
Kotak Mahindra Bank Limited filed IA No. 555/2020 to set aside the ex-parte order dated 09.09.2020 passed in IA No. 368/2020. The Tribunal, after hearing Mr. Manish Jain for the applicant, directed the issuance of notices to respondents for a specific date. The applicant was instructed to file an affidavit of service supported by acknowledgment of receipt of notices within a week. Replies were to be filed within a week after receiving the notice, and the IA was listed for a hearing along with IA No. 368/2020 on the specified date.

This detailed analysis covers the urgent hearing request, admission of belated claims, and the application to set aside an ex-parte order as per the Tribunal's instructions and legal procedures.