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TMI Blog2021 (3) TMI 1286X X X X Extracts X X X X X X X X Extracts X X X X ..... (5) of the Insolvency and Bankruptcy Code. 2016 (hereinafter referred as "IBC, 2016") for issuance of Direction to the Resolution Professional of the Corporate Debtor to accept the claim in full filed by the Applicants. 2. The brief facts that compelled the Applicants to file the application under consideration are as follows: - i. The applicant invested in scheme of the Indirapuram Habitat Centre, Indirapuram, Ghaziabad ("Project") floated by the Indirapuram Habitat Centre Private Limited (IHCPL), the associate company of the CD. The payment of Rs. 37,23,876/- was made towards the booking of commercial space in 4 instalments after filling the application dated 28.06.2017. However, the IHCPL was not able to provide the Unit in the proje ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6.2020. It is also stated by the Resolution Professional in the process update dated 10.06.2020 that the appointed Forensic Auditor, M/S S.P Chopra & Co. was not able to proceed with the audit of the Corporate Debtor due to non-availability of the books of account and the financial statements for F.Y 2018-19 and for the period up to 06.09.2019. The RP has completely eschewed the admitted claims of the previous Resolution Professional. As per section 18 and 25 of the IBC, it is the duty of RP/IRP to collate all claims submitted by the creditors but nowhere it is empowered to verify and admit or reject claims. iv. The Applicant relied on the judgment of Hon'ble NCLAT namely, Mr. S. Rajendaran, Resolution Professional of PRC International Ho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid an amount of Rs. 15,29,057/- through cheques to IHCPL in June 2017 and same has been transferred to CD, apart from said amount, no other amount is being reflected in the books of account of CD and said revision was made as per regulation 14(2) of the CIRP Regulations. Hence, after verification the claim of the applicant was admitted to the tune of Rs. 15,75,279/-. The respondent is entrusted with such duties of verification of claims as per regulation 13 of CIRP Regulations. ii. It is further submitted that the claim of the Applicant was not rejected as the RP has only revised the claim of the applicant as per the books of account of the CD as per regulation 14(2) r/w regulation 13 of CIRP regulation. Furthermore, the CIR Process is a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment under section 203AA. Furthermore, the applicant duly disclosed that their flat in the IHCPL as their assets and filed the balance sheet and profit and loss. Moreover, the RP has not accepted the claim of first allottee of Flat no. A2-0902 and instead of allotting the flat to the Applicant, the RP reduced the admitted claim of the applicant. The Applicant also filed the written submissions and reiterated the same facts as mentioned in the Application and Rejoinder. Hence, not repeated for sake of brevity. 5. The main issue before this adjudicating authority is as to whether the Resolution Professional has rightly revised the claim of the Applicant to the tune of Rs. 15,75,279/-? 6. We have heard the counsel for petitioners as well as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... terim resolution professional or the resolution professional, as the case may be, may call for such other evidence or clarification as he deems fit from a creditor for substantiating the whole or part of its claim. 13. Verification of claims. - (1) The interim resolution professional or the resolution professional, as the case may be, shall verify every claim, as on the insolvency commencement date, within seven days from the last date of the receipt of the claims, and thereupon maintain a list of creditors containing names of creditors along with the amount claimed by them, the amount of their claim admitted and the security interest, if any, in respect of such claims, and update it." 7. The above provisions of the Code along with IBBI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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