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TMI Blog2019 (11) TMI 1513X X X X Extracts X X X X X X X X Extracts X X X X ..... affidavit that the communication of rejection was received by the Applicant on 14.05.2019. In the instant case as rightly brought out by R2/Liquidator as evidenced from tabulation and which is also not disputed by the Applicant/Appellant herein there has been a delay in approaching this Tribunal beyond the prescribed period of 14 days and no application has been filed nor any specific prayer has also been sought for in the Application/Appeal filed by the Applicant seeking for condonation of delay in filing the Appeal. In view of the absence of any specific Application seeking for condonation of delay having been filed by the Applicant in approaching this Tribunal by way of an Appeal against the Order of rejection of its claim by the Liquidator beyond the prescribed period of 14 days and in any case as held by the Hon'ble Supreme Court in Gaurar Hargovindbhai Dave -Vs- Asset Reconstruction Company (I) Ltd. Another [ 2019 (9) TMI 1019 - SUPREME COURT] , in relation to the aspect of limitation restating the established and well settled principle that there is no equity about limitation , we are unable to entertain this Application/Appeal. In view of the I B Code, 2016 bei ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Applicant by R2 (erstwhile RP) on 06.03.2018. Thereafter, this Tribunal had ordered the liquidation of R1 vide Order dated 12.10.2018 whereby R2 was appointed as Liquidator. 3. Consequent to the appointment of R2 as Liquidator as averred in the Application that a public announcement calling for the claims were issued by R2 under which the last date for filing of the claims was stated to be on 10.11.2018. However, after the liquidation order has been passed, the Applicant by their letter dated 13.11.2018 withdrew the notice issued under Section 45 to the R1/Corporate Debtor. It came to the knowledge of the Applicant that claims were required to be lodged with the Liquidator in relation to the liability arising out of tax due by virtue of the reassessment order dated 15.05.2012 with R2 and in the circumstances, steps were taken by the Applicant to lodge the claim and that the claim was sent after finalization to R2/Liquidator under a cover of letter dated 08.04.2019 in Form-C. However, R2/Liquidator has rejected the claim which has prompted the Applicant to file the present Application with the following reliefs as sought for. (i) That this Hon'ble Tribunal may be ple ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appeared in person were heard. During the course of the submissions, the Ld. Counsel for the Applicant brought-forth the fact that the Applicant is a statutory authority acting under the provisions of the CST Act and that the total amount due from R1/Corporate Debtor for the Assessment Year 2012-2013 aggregates to a sum of ₹ 92,34,311/-, arising out of the reassessment order dated 17.03.2018 and only during the process of recovery as averred in the Application of the tax liable to be paid by R1/Corporate Debtor, it become aware of the proceedings of the liquidation of R1/Corporate Debtor and soon thereafter, the Applicant had endeavored to submit the claims to the Liquidator, however, for the reasons stated in the Application there has been a delay in filing the claims and the delay cannot be the sole reason for rejection of the claim by the Liquidator. 8. In this connection, the Ld. Counsel for the Applicant points out to the decision communicated to R2/Liquidator by the Applicant vide its letter dated 13.05.2019 rejecting the claim. Under the similar circumstance, it is pointed out by the Ld. Counsel for the Applicant relying upon the decision of Hon'ble NCLT, Kolka ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the State Government' and 'local authority', who are entitled for dues arising out of the existing law are Operational Creditor' within the meaning of Section 5(20) of the I B Code. The Applicant is required to submit the claim to the Liquidator in such form and in such manner along with such supporting documents as specified by the Board. Thereafter, upon submission of the claim, the Liquidator is required to verify the claims within the time limits specified by the Board and in this connection referring to the relevant Regulations namely, IBBI (Liquidation Process) Regulations, 2016 and more specifically under Regulation 30, the Liquidator is required to verify the claim submitted within a period of 30 days from the last date of receipt of the claims and may either admit or reject in whole or part as the case may be of such claim. Section 40 of the I B Code, 2016 mandates the Liquidator to record the reason in writing for rejection of the claim and the same is also required to be communicated to the Applicant, 11. In relation to his decision of admission or rejection, the Liquidator is required to communicate to both the creditors and the Corporate Deb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the Ld. Liquidator in his counter affidavit that the communication of rejection was received by the Applicant on 14.05.2019. 14. It is pertinent to note that in relation to the decision cited by the Ld. Counsel appearing for the Applicant that of Mumbai Bench of the Hon'ble NCLT in Natwarlal Shamaldas Co in MA/1098/2018 in C.P. No. 82/IBC/NCLT/MB/MAH/2017 dated 10.04.2019, the Application has been filed for condoning the delay in lodging the claim with the Liquidator, but whether the said Bench of this Tribunal was seized of the delay in filing the Appeal before this Tribunal per-se, the said issue is not discernible from the said order and in the circumstances can be distinguished. 15. In relation to the decision cited by the Ld. Counsel for the Applicant in the matter of Hon'ble NCLT, Kolkata Bench in UCO Bank -vs- Nicco Corporation Ltd reported in (2018) TaxPub(CL) 0326 (NCLT-Kol) from the facts outlined the Appeal seems to have been preferred within the mandatory time limit of 14 days as fixed under Section 42 of the I B Code, 2016, as it is seen in Para 2 of the said order that the decision of the Liquidator therein rejecting the claim was passed on 08.12.201 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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