2019 (12) TMI 1623 - AT - Insolvency and Bankruptcy

CIRP - Seeking direction to RP to accept its claim - The Adjudicating Authority noticed that earlier claims of the Appellant were dealt with by the Resolution Professional and were rejected. - HELD THAT - we are not inclined to decide any matter relating to claim of one or the other claimant entitled to premises as a Home buyer as no proof was laid before the Adjudicating Authority reflecting that against such claims monies were paid to the Corporate Debtor . As regards the plea that if one or the other individual including the Appellant has made full payment, the learned Counsel may bring it to the notice of the Resolution Professional or the Successful Resolution Applicant . We are not inclined to express any opinion with regard to the same. Appeal dismissed.

Summary

Issues:
1. Application for relief against the Resolution Professional.
2. Rejection of earlier claims by the Resolution Professional.
3. Impleadment application and proof of payments to the Corporate Debtor.
4. Direction to the Resolution Professional or Successful Resolution Applicant.

Analysis:
1. The judgment pertains to an appeal filed by M/s. Innova Home Buyers Neyveli Association seeking relief against the Resolution Professional in the Corporate Insolvency Resolution Process of M/s. P Dot G Constructions Private Limited. The Appellant requested the Adjudicating Authority to direct the Resolution Professional to accept their claim.

2. The Adjudicating Authority observed that the Appellant's earlier claims had been rejected by the Resolution Professional, and the rejection order was not challenged. Subsequently, a petition was filed under sub-section (5) of Section 60 for relief against the Resolution Professional.

3. The Appellant's counsel argued that the application was also for impleadment. However, the Tribunal declined to decide on the claims of various individuals as home buyers without proof of payments made to the Corporate Debtor. The Tribunal suggested that if any individual, including the Appellant, had made full payment, they should bring it to the attention of the Resolution Professional or the Successful Resolution Applicant. The Tribunal refused to express an opinion on this matter and found no grounds to interfere with the impugned order, thereby dismissing the appeal.

4. The judgment emphasizes the importance of providing proof of payments to the Corporate Debtor when making claims as a home buyer. It also highlights the need for claimants to communicate directly with the Resolution Professional or the Successful Resolution Applicant regarding any payments made. The Tribunal's decision underscores the significance of following due process and presenting necessary evidence to support claims in insolvency proceedings.