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2022 (9) TMI 438 - AT - Insolvency and BankruptcyResolution Plan approved - claiming pre-CIRP dues, post approval of Resolution Plan - HELD THAT - Resolution Plan of the Corporate Debtor was approved on 12th February, 2018 subsequently certain demands were issued by the Appellant to the Successful Resolution Applicant for certain charges from the Successful Resolution Applicant such as Terminal Charge, Demurrage Charges, etc. - As submitted by Learned Counsel for the Respondent the application was only with regard to the pre-CIRP dues and hence the order dated 25.11.2021 shall have no effect on the payments claimed by any subsequent period after approval of the Resolution Plan on 12th February, 2018. The statement of Counsel for the Successful Resolution Applicant is recorded and it is clarified that Order dated 25.11.2021 is confined to only pre-CIRP dues and has no bearing on any claim after 12.02.2018. Appeal dismissed.
Issues:
1. Condonation of re-filing delay of 100 days. 2. Validity of the Appeal filed against the Order dated 25th November, 2021. 3. Interpretation of the Resolution Plan regarding payment of charges by the Successful Resolution Applicant. Condonation of re-filing delay: The judgment addressed an Application for condonation of re-filing delay of 100 days due to certain defects marked by the Registry. The Appellant, based in Kolkata, required time to sign the Application and accompanying Documents, justifying the delay. The Tribunal found the cause shown to be sufficient and consequently condoned the re-filing delay, allowing the Application. Validity of the Appeal: The Appeal was filed against the Order dated 25th November, 2021, passed by the Adjudicating Authority on I.A. No. 614(KB) 2020 in C.P. (IB) No. 37/KB/2017. The Resolution Plan of the Corporate Debtor was approved on 12th February, 2018. The Appellant raised demands for charges such as Terminal Charge, Demurrage Charges, etc., from the Successful Resolution Applicant post-approval. The Tribunal considered the prayers made in the Application I.A. No. 614(KB) 2020 and clarified that the Order dated 25.11.2021 only pertained to pre-CIRP dues and did not affect payments claimed for any period after 12.02.2018. Consequently, the Appeal was dismissed based on this clarification. Interpretation of the Resolution Plan: The Respondent claimed relief quo pre-CIRP dues of the Appellant, which were deemed extinguished post the approval of the Resolution Plan on 12th February, 2018. The Appellant contended that certain charges remained payable by the Successful Resolution Applicant even after the plan's approval. The Tribunal clarified that the Order dated 25.11.2021 solely addressed pre-CIRP dues and did not impact claims for any subsequent period after 12.02.2018. With this clarification, the Tribunal dismissed the Appeal, emphasizing the limited scope of the Order on pre-CIRP dues. This comprehensive analysis of the judgment highlights the Tribunal's considerations regarding the re-filing delay, the validity of the Appeal against the Order dated 25th November, 2021, and the interpretation of the Resolution Plan concerning payment obligations post-approval.
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