9911796707
TMI Blog2021 (12) TMI 246X X X X Extracts X X X X X X X X Extracts X X X X ..... ayur Jugtawat, Advocate (R-2) JUDGMENT (Virtual Mode) [ Per : Dr. Alok Srivastava , Member ( Technical ) ] This appeal has been filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (hereinafter called "IBC") by the Appellant, who is aggrieved by the order dated 4.9.2020 (hereinafter called "Impugned Order") in Company Petition No. (IB)-189 of 2018 passed by the Adjudicating Authority (National Company Law Tribunal, Ahmedabad), whereby the application of the then Resolution Professional under Section 30(6) of the IBC has been allowed without considering the claim of the Appellant. 2. The facts of the case are that the Corporate Insolvency Resolution Process (in short "CIRP") was initiated against the Corporate Debtor (Te ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal. The erstwhile RP was also directed to place on record documents to show when the claim of the Appellant was rejected and conveyed to him and to also clarify if the claim of the Appellant was part of the Resolution Plan. Thereafter the Respondent No. 2 Mr. Vijay P. Lulla, the erstwhile RP, submitted an affidavit vide diary No. 30107 dated 28.9.2021 to provide facts relating to the date of submission of claim by the Appellant, the date of rejection of said claim and whether the claim of the Appellant was part of the Resolution Plan. 5. We heard the oral arguments of the Learned Counsel of the Appellant and Respondents No. 1 and 2. The pleadings submitted by the parties as well as Written Submissions have been duly considered by us. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pproval of the Adjudicating Authority on 4.10.2019. The claim filed by the Appellant was much after this date, on 1.1.2020. He has adverted to the judgments of Hon"ble Supreme Court in the Committee of Creditors of Essar Steel India Limited (through authorized signatory) v. Satish Kumar Gupta and Others, (2020) 8 SCC 531 case and Ghanashyam Mishra & Sons (P) Ltd. v Edelweiss Asset Reconstruction Co. Ltd. 2021 SCC Online 313 case to strongly argue that once the Resolution Plan has been finalized and has been approved by the CoC as well as the Adjudicating Authority it cannot be reopened so that the resolution process achieve finality in a time bound fashion. He has also stated that the Successful Resolution Applicant has implemented the appr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esolution Process for Corporate Persons) Regulations, 2016 and whether a claim, if filed after the specified time period, could be considered at this belated stage. 10. It is admitted by the Appellant that he filed the claim on 1.1.2020. The affidavit submitted by erstwhile RP Respondent No. 2 (diary no. 30107 dated 20.8.2021) makes it clear that the 90 days" period after the public announcement as allowed in the CIRP Regulations (supra) for filing proof of claims expired on 9.2.2019. Moreover the RP vide letter dated 3.1.2020 communicated to the Appellant the fact of rejection of his claim and also that the Resolution Plan is already under consideration of the Adjudicating Authority. Therefore, the fact of rejection of his claim was withi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plan; (ii) 2019 amendment to section 31 of the I&B Code is clarificatory and declaratory in nature and therefore will be effective from the date on which I&B Code has come into effect; (iii) Consequently all the dues including the statutory dues owed to the Central Government, any State Government or any local authority, if not part of the resolution plan, shall stand extinguished and no proceedings in respect of such dues for the period prior to the date on which the adjudicating Authority grants its approval under Section 31 could be continued." 12. In the case of Committee of Creditors of Essar Steel India Limited through Authorised Signatory (supra), relevant portion of this judgment is reproduced below:- "107. ........A succe ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
