9911796707
TMI Blog2021 (7) TMI 1081X X X X Extracts X X X X X X X X Extracts X X X X ..... 39;) 2016 against the Liquidator Mr. Prashant Agrawal ('Respondent'/'Liquidator'). The Application is filed seeking setting aside of the rejection of claim of the Applicant by the Liquidator. 2. The Adjudicating Authority vide order dated 21.08.2019 had admitted the application for initiation of CIRP of Corporate Debtor and as a consequence thereof appointed Mr. Prashant Agrawal as the Interim Resolution Professional (TRP') and also declared moratorium in relation to the Corporate Debtor. The IRP was subsequently confirmed as the Resolution Professional ('RP'). On 24.01.2020, this Adjudicating Authority approved liquidation of the Corporate Debtor and appointed the RP as the Liquidator. 3. The Applicant stated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... email dated 24.06.2020 accepted the claim to the extent of principal amount, i.e. Rs. 3,61,595/- and rejected the claim of interest amount of Rs. 7,86,276/- stating that there is no record/information with respect to charging interest over the goods so supplied by the Applicant to the Corporate Debtor. The Respondent also provided the following reasons in rejecting the claim of the Applicant: a. The Applicant has failed to enclose copy of agreements with the Corporate Debtor for the purpose of claiming the said amount; b. The Applicant has failed to enclose copy of invoices/debit notes or any other document that justifies the claimed amount; c. The claim is time barred under Section 238A of the Code and the Limitation Act, 1963. Howev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deal from you through M/s. Sohan Lal & Sons. We supply the coal to you as per the instruction of M/s. Sohan Lal & Sons on behalf of the advance deposit of M/s. Sohan Lal & Sons. We deal as per the instructions of M/s. Sohan Lal & Sons and supply & billing the various orders as per their instructions. We raise the bills in your favour & M/s. Sohan Lal & sons is owner of all the supplied goods and authorized from collection of credit balance from you. " 8. The Applicant has also stated that the Corporate Debtor had filed petition before the BIFR in the year 200-03 for declaring itself as a sick unit which restrained the Applicant from filing any claim/petition before any authority. Subsequently, a civil suit was filed in the year 2014 by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eans that the alleged debt is yet to be adjudicated and hasn't materialized yet and the same is pending adjudication; f. For the purpose of limitation, the period of 3 years is sacrosanct and cannot be overlooked while determining whether a debt is time barred or not. Here the debt became due in the year 2000, thus it is hit by Section 238A of the Code; g. There is no document on record supporting the claim of interest of the Applicant. 10. The Applicant and Respondent have both filed written submissions. The Applicant has reiterated the same contentions as mentioned in the Application. The Respondent in its written submissions has submitted that in the Claim Form C, the Applicant has mentioned that there is no dispute and record o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... two letters from the ultimate suppliers, namely M/s. Bansal Coal Traders and Linkson Coal & Minerals Pvt. Ltd. addressed to the Corporate Debtor which state that they were supplying coal through the middle man Sohan Lal & Sons on the basis of advance cash deposit and bills were raised accordingly. It is stated that M/s. Sohan Lal is the owner of all the supplied goods and authorized for collection of credit balance from the Corporate Debtor. e. The Corporate Debtor had filed petition before BIFR in the year 2002-03 to declare itself as a sick unit which restrained the Applicant from filing any case against. Later, in 2014 the Applicant filed a recovery suit before the Hon'ble District Court, Bhilwara and subsequently, when the Applica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the basis of which the Respondent admitted the said principal amount. Therefore, we find no reason in delving into the approval of the principal amount and the claim of the Applicant including interest is due and payable by the Corporate Debtor. 13. Now, in respect of M/s. Shyam Enterprises, the Applicant has annexed the ledger account of the Applicant as maintained by the Corporate Debtor and it shows that the outstanding amount of Rs. 10,95,626/- is owed to M/s. Shyam Enterprises. Thus, the claim of the Applicant in respect of M/s. Shyam Enterprises cannot be denied, to the extent of the principal amount. And the claim of the Applicant with respect to the interest charged is still unclear, as no proof/documents/evidence have been prov ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
