9911796707
TMI Blog2020 (12) TMI 756X X X X Extracts X X X X X X X X Extracts X X X X ..... t the same before the Respondent - The Respondent liquidator stated that he has executed his duties as per provisions of law and the present application deserves to be adjudicated as per judicial discretion of this Tribunal. Maintainability of Intervention Application filed by Respondent 1 - Section 60 (5) (a) of the Insolvency Bankruptcy Code, 2016 read with Rule 11 and 32 of the NCLT Rules - HELD THAT:- It is seen that there is a collusion by the Liquidator with the applicant M/s Kopran Limited in filing the present M.A in order to defeat the rightful claims of the ex-workers of their legitimate dues. This will be clear from the counter filed by him in the present M.A. The Liquidator can make the legitimate payment of the applicant Kopran Limited but that should not be at the costs of the workmen of Excel Glasses Limited - The application is liable to be dismissed as not maintainable. Applications disposed off. - IA No.189/KOB/2020 , MA No. 148/KOB/2020 in IBA/258/CHENNAI BENCH - - - Dated:- 10-12-2020 - Hon ble Mr. Ashok Kumar Borah, Member (Judicial) For Applicant in MA 148 : Mr. Sankalp Anantwar, Advocate For Resolution Professional : Mr. Akhil Sures ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proceedings would directly affect the applicant s interests as a creditor of the Corporate Debtor. Further, the workmen/employees, even though they were aware of the claim made by the applicant against the Corporate Debtor, they have not been made a party to the M. As filed by them. 7. The applicant further stated that in light of the claims submitted to the Respondent, under the Code, there is an obligation to ascertain the assets and liabilities of the Corporate Debtor. Pursuant to the determination of the assets and liabilities of the Corporate Debtor and in order to recover the due amount from the Corporate Debtor, the Respondent has an obligation to proceed with the sale of the assets/liquidation estate of the Corporate Debtor. The recovery of money through sale of assets, the proceeds from sale are required to be distributed to the creditors in accordance with Section 53 of the Code. However, vide the Applications, of the workmen/employees they have sought that they should be impleaded as necessary parties in the Liquidation process and they want the Liquidator to decide and pay the amount due to each workman without including it in the waterfall mechanism envisaged under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... averred that the Respondent has admitted and entertained certain claims which were filed beyond the last date for submission of the claims. In this regard, the Respondent submitted that these amounts are admitted liability in the books of accounts maintained by the Corporate Debtor and hence the Liquidator is duty bound to accept the same in accordance with Regulation 19 (4) and Regulation 25. Despite the same, certain employees/workmen without knowing that their claims were already accepted as reflected in the books of accounts had also obtained orders of this Tribunal to submit the same before the Respondent. 12. The Respondent liquidator stated that he has executed his duties as per provisions of law and the present application deserves to be adjudicated as per judicial discretion of this Tribunal. IA/189/KOB/2020 13. This I.A has been filed by Ex Excel Glasses Employees Federation, represented by its Secretary, Prakasan. V in CP (I.B) No. 258 of 2019 under Section 60 (5) (a) of the Insolvency Bankruptcy Code, 2016 read with Rule 11 and 32 of the NCLT Rules against Kopran Limited Others for the following reliefs: a. Dismiss the Intervention Application file ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... financial interests of other creditors. The workmen do not also want to delay the liquidation process since it will also delay the workmen from getting their dues under the waterfall mechanism. Therefore, the contention that the workman has malafide intentions is devoid of merits. As per Section 53 of the Code, workmen dues are to be paid first in accordance with the waterfall mechanism, whereas the unsecured creditor is only to be paid fourth in priority, after workmen dues are paid. The Code therefore, specifically protects workmen dues by prioritizing their payment over other dues. 18. The learned counsel further raised a point that Respondent 2/Liquidator who was also the Resolution Professional, is making conspiracy against the workmen by supporting such a frivolous impleadment petition. The present intervention petition is a part of the measures adopted by the Liquidator and the creditors to deny the workmen their due claims. Therefore, the applicant prayed to dismiss the intervention application, MA/148/KOB/2020. 19. Respondent No. 1 in their counter stated that the claims of the workmen has been accepted by the Respondent No.2 based on certain calculations which has b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e impleaded as a party Respondent in applications of the workmen. Findings : 22. This Tribunal heard the arguments advanced by the learned counsel on either side and perused all the documents placed on record. At the outset the maintainability of M.A. 148/KOB/2020 is to be decided first. 23. M.A/148/KOB/2020 has been filed by the applicant M/s Kopran Limited, an unsecured Financial Creditor of M/s Excel Glasses Limited. This M.A has been filed to implead the applicant as a party respondent in applications mentioned in Annexure-A. However, it is found that the present application has been filed in IBA 258/CHENNAI BENCH, which application has already been disposed of. Firstly, a prayer to implead in a case which is not alive cannot be accepted. If it is to be taken as to be impleaded in so many Applications as mentioned in Annexure-A, filed by the ex-workmen of M/s Excel Glasses Limited, the applicant of M. A should have filed impleading applications in all the M. As, filed by the workmen, making them as parties to M.A, serving copies on them, so that they can revert back with their objections, if any. Without making the ex-workmen a party, an M.A filed behind their back ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
