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TMI Blog2021 (11) TMI 903X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal Rules, 2016 and has prayed following reliefs and the same is quoted below : "(a) allow the instant application of the applicant ; (b) issue necessary instructions to the RP to consider the claim without having any regard to the delay ; (c) pass an order to admit the claim of the applicant before RP ; and (d) in the meanwhile, direct the RP not to proceed with the adoption of resolution plan (not been approved till today and the approval of which would render the present application infructuous), without the admission of the instant claim of the applicant as the claim was duly presented before the RP at an appropriate stage which war ranted admission as per the settled law. (e) pass any other order this hon'ble Tribuna ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch amended regulation 12(2) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 has been held to be directory and not mandatory. (x) On behalf of the RP counsel's sent an e-mail dated January 5, 2021 stating that the claim cannot be accepted as it was submitted by delay to RP and already resolution plan was submitted by one resolution applicant to RP which is pending for consideration by the CoC. (xi) Further, the applicant has referred various decisions and the same are quoted below : "In the matter of Twenty First Century Wire Roads Ltd., In re (I. B. No. 737(PB) of 2018), an application was filed by one AMA Agencies P. Ltd., before the hon'ble Principal Bench of the National Company Law Tribu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. 4. Learned counsel for the applicant in course of arguments submitted that since the applicant was not aware about the publication made by the IRP. Therefore, the applicant could not file the claim within the time prescribed in the advertisement. 5. He further submitted that thereafter, on March 25, 2020 the lockdown was imposed by the Central Government as well as State Governments and due to this the development was not known to the applicant. 6. He further submitted that the moment the applicant has come to know regarding the initiation of the CIRP against the corporate debtor soon thereafter, he has filed the claim before the RP but the RP has rejected the same. 7. He further submitted that regulation 12(2) is not mandatory rathe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... resolution professional, as the case may be, till the approval of a resolution plan by the committee. 12. When we read the old and new regulation 12(2) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 then it can be said that prior to the amendment in regulation 12(2), a claim is required to be filed before the IRP or the RP as the case may be, till the approval of a resolution plan by the committee and that is the reason earlier the Co- ordinate Bench has given directions to the RP to consider the claim in some cases but after the amendment till the approval of the resolution plan by the committee was substituted by on or before the 90th day of the insolvency commencement date. Herein the case in hand, a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... down was imposed by the Government the claim could not be submitted within time. Admittedly, in another matters, we exclude the period of lockdown which was imposed on March 25, 2020 till May 31, 2020, i. e., 68 days, if we exclude this period of lockdown while calculating the period of 90th day from the CIRP period even then the claim of the applicant is delayed because it was submitted on December 23, 2020. 16. For the reasons discussed above, we are of the considered view that, in view of regulation 12(2), the prayer of the applicant is not liable to be accepted. Hence, we, hereby, are unable to give any direction to the RP to consider the claim of the applicant. Accordingly, the prayer of the applicant is rejected. 17. With this order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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