9911796707
TMI Blog2021 (4) TMI 1277X X X X Extracts X X X X X X X X Extracts X X X X ..... d date of closure of CIRP as 26th April, 2020. Subsequently exclusion/extension of time was granted by Adjudicating Authority, and having failed to get suitable Resolution Plan, the CD was placed under Liquidation process as early as on 2nd December, 2020. However, the Applicant pleading ignorance about the said developments, has in casual way awoke and responded only to public Announcement given under Liquidation process, by submitting its claim only on 04.03.2021, that too after last date was over by citing untenable grounds. The reasons cited by the Applicant that it was unaware of the CIRP/Liquidation of Corporate Debtor, the State would lose its legitimate dues viz., the tax collected from public, it is duty of Liquidator alone to v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ondent to verify, admit and process the claim of the Applicant dated 04.03.2021 etc. 2. Brief facts of the case, as mentioned in the Application, which are relevant to the issue in question, are as follows: (1) Initially, C.P.(IB) No. 320/BB/2019 filed by M/s. Sir M Visvesvaraya Co-operative Bank Limited (Petitioner/Financial Creditor), U/s. 7 of the IBC, 2016, same was admitted by the Adjudicating Authority, vide its Order dated 29.10.2019, by initiating CIRP in respect of the Corporate Debtor, appointing Shri Addanki Haresh as IRP, imposing moratorium etc. Subsequently, the Corporate Debtor was placed under Liquidation, vide Order dated 02.12.2020, by appointing the RP as Liquidator. Pursuant to his appointment, the Liquidator i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under the provisions of the IBC. Later, the Applicant visited the website of IBBI and thereby became aware of the Order of the Adjudicating Authority dated 02.12.2020, ordering for initiation of liquidation proceedings and appointing the R-2 as the liquidator of the R-1. Further, the Applicant became aware, for the first time that the R-2 had issued a Public Announcement on 11.12.2020, and the last date for submission of claims was 11.01.2021. (4) Pursuant thereto and notwithstanding the fact that the last date had lapsed, the Applicant immediately prepared, finalised and filed its statement of claim in Form C, dated 04.03.2021, before the R-2 on 04.03.2021. The said claim covered the aforesaid statutory dues aggregating to ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... suitable Resolution Plan, the CD was placed under Liquidation process as early as on 2nd December, 2020. However, the Applicant pleading ignorance about the said developments, has in casual way awoke and responded only to public Announcement given under Liquidation process, by submitting its claim only on 04.03.2021, that too after last date was over by citing untenable grounds. The Liquidator, in his letter dated 17.03.2021, has rightly rejected the same by stating that as per Regulation 16 (1) of IBBI (Liquidation Process) Regulations, 2016, the claims need to be submitted on or before 11.01.2021. The reasons cited by the Applicant that it was unaware of the CIRP/Liquidation of Corporate Debtor, the State would lose its legitimate dues v ..... X X X X Extracts X X X X X X X X Extracts X X X X
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