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TMI Blog2019 (6) TMI 460X X X X Extracts X X X X X X X X Extracts X X X X ..... or an application before the appropriate Forum. This Appellate Tribunal having given liberty to the Appellant to file a claim in terms of sub-section (6) of Section 60 and the impugned order aforesaid to the extent as mentioned in paragraph 13 and quoted above being contrary to the decision of this Appellate Tribunal, is fit to be set aside - Appeal allowed in part. - Company Appeal (AT) (Insolvency) No. 469 of 2019 - - - Dated:- 2-5-2019 - Mr S.J. Mukhopadhaya, Chairperson, Mr A.I.S. Cheema, Member (Judicial) And Kanthi Narahari, Member (Technical) For The Appellant : Mr. V. Prakash, Senior Advocate with Mr. Ajay Garg and Ms. Shubha Ananth, Advocates For The Respondent : Ms. C. Rubavathi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ved that after completion of the period of moratorium, a suit or application can be filed against the Corporate Debtor . Relevant portion of Section 60 is quoted below:- 60. ( 1) The Adjudicating Authority, in relation to insolvency resolution and liquidation for corporate persons including corporate debtors and personal guarantors thereof shall be the National Company Law Tribunal having territorial jurisdiction over the place where the registered office of the corporate person is located. xxx xxx xxx ( 5) Notwithstanding anything to the contrary contained in any other ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Writ Petition (Civil) No. 99 of 2018 . In the said judgment dated 25th January, 2019, the Hon ble Supreme Court held that Resolution Professional has no adjudicatory power. The Resolution Professional has to vet and verify the claims made and ultimately determine the amount of each claim. As opposed to this, the Liquidator in the Liquidation proceedings under the I B Code has to consolidate and verify the claims and either admit or reject such claims under Sections 38 to 40 of the Code. 9. In the present case, it is informed that the resolution plan has already been approved by the Committee of Creditors and the Resolution Professional had placed the same before the Adjudicating Authority on 4th October, 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d order of liquidation is passed in respect of M/s. Star Agro Marine Exports Pvt. Ltd. , in such case, it will be open to the appellant M/s. Prasad Gempex to file claim before the Liquidator in accordance with the provisions as referred to above and the Liquidator will decide the claim under Section 40 of the I B Code. 13. We may observe that we have not expressed any opinion with regard to the claim as made by M/s. Prasad Gempex . So far as the SREI Infrastructure Finance Ltd. who is aggrieved by the decision of the Resolution Professional , it may also take steps under sub-section (6) of Section 60 against the corporate debtor or any other party. In this case, we make it clear that we have not expressed an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... laim before the Court of competent jurisdiction or an application before the appropriate Forum. 8 Company Appeal (AT) (Insolvency) No. 469 of 2019 4. This Appellate Tribunal by order dated 1st February, 2019 in Company Appeal (At)(Insolvency) No. 291 of 2018 having given liberty to the Appellant to file a claim in terms of sub-section (6) of Section 60 and the impugned order aforesaid to the extent as mentioned in paragraph 13 and quoted above being contrary to the decision of this Appellate Tribunal, is fit to be set aside. 5. For the reasons aforesaid, we set aside the observation and direction as given by the Adjudicating Authority at paragraph 13 of the impugned order dated 11th March, 2019 passed i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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