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TMI Blog2018 (5) TMI 1920X X X X Extracts X X X X X X X X Extracts X X X X ..... rs based on facts and circumstances of each case. In absence of any discrimination or perverse decision, it is not open to the Adjudicating Authority or this Appellate Tribunal to modify the plan. Appeal dismissed. - Company Appeal (AT) (Insol.) No. 327 of 2017 - - - Dated:- 2-5-2018 - Justice S.J. Mukhopadhaya (Chairperson) And Justice Bansi Lal Bhat Member (Judicial) JUDGMENT Both the appeals have been preferred by the appellant(s) (Operational Creditor) against the order dated 29th September, 2017 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench in M.A. No. 349/2017 in C.P. No. 23/I BP/NCLT/MB/MAH/2017 whereby and where under the Adjudicating Authority approved the Resoluti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount has been allowed with certain rider. It Company Appeal (AT) (Insolvency) No. 327 328 of 2017 is submitted that the appellant Symphony Ltd. has already filed a winding up proceedings before the High Court of Mumbai, which is pending, in the meantime, the proceeding under Section 10 preferred by the Corporate Applicant has been admitted and the impugned order was passed. 3. Learned counsel appearing on behalf of the 1st respondent Corporate Debtor submitted that the appellants had failed to file their respective claim within the prescribed period. In spite of the same, their claims have been taken care in the Resolution Plan based on the books of accounts of the Corporate Debtor. 4. Insofar as the appellant Darshak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otal outstanding dues against the Respondent No. 1) was issued in favour of the Appellant, which was encashed by the Appellant. Annexed hereto and marked as Exhibit A are the relevant extracts from the Resolution Plan. 5. As regard the Symphony Limited, the respondent has taken the following stand: 4. I further state that despite the non-receipt of the Appellants claim before the approval of the resolution plan by the committee of creditors (CoC) of the Corporate Debtor, i.e. the maximum time stipulated under regulation 12 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 Company Appeal (AT) (Insolvency) No. 327 328 of 2017 (CIRP Regulations), the dues ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... account of the pending litigation between the parties, falls under the category of Operational dues which are subject matter of litigation. Accordingly, any payment purportedly due to the Appellant is subject to the final adjudication of the claims. I say that should the contingency arise where it is finally adjudicated/held that monies are due from the Respondent No. 1 to the Appellant, then the same shall be paid in accordance with the terms of the Resolution Plan. 6. In these cases as we find that in spite of receipt of their claim much beyond the period prescribed under the I B Code, the Resolution Plan has taken care of the claim of the appellants, we are not inclined to interfere with the order passed by the Adjudicating Au ..... X X X X Extracts X X X X X X X X Extracts X X X X
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