9911796707
TMI Blog2022 (3) TMI 1110X X X X Extracts X X X X X X X X Extracts X X X X ..... es For the Respondent : Mr. Abhishek Anand and Mr. Sahil Bhatia, Advocates JUDGEMENT ( Per: Shreesha Merla, Member (T) ) 1. Challenge in this Company Appeal (AT)(Insolvency) No.34/2022 is to the impugned order dated_12.10.2021 in Company Appeal IBC/01/ND/2021 connected with Company Petition (IB)-323/ND/2019 passed by the Adjudicating Authority, National Company Law Tribunal, Court V, New Delhi, dismissing the Appeal preferred by the Appellant herein against the decision of the Liquidator, rejecting the Claim due to delay in filing of the same. 2. Succinctly put, the facts in brief are, that the Appellant gave an unsecured loan of Rs. 4,84,00,000/- in January, 2016 to the 'Corporate Debtor'. While so, CIRP was initiated against the Corp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is unable to show the sufficient cause for condoning the delay in submitting the claim by the Appellant; therefore, the prayer is rejected." 4. Submissions of the Appellant: * The Learned Counsel strenuously contended that upon directions of the Adjudicating Authority the Appellant filed an Affidavit dated 16.03.2021, in which it was deposed that the Appellant had come to know about the Notice of Liquidation Proceedings only in the month of October, 2020 and did not have any knowledge regarding the Public Announcement. * The Appellant being a Senior Citizen, could not, during the pandemic, immediately meet/contact any counsel or collate the data for filing of the Claim as the said data was lying in his Office which was physically shut do ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 22.3.2020 passed by the Hon'ble Apex Court was in effect till 14.03.2021 and hence the said period of Limitation from 22.3.2020 till 14.03.2021 is to be excluded. The Learned Counsel placed reliance on the directions given by the Hon'ble Apex Court in the aforenoted Judgement, that all litigants whose limitation expired after 22.03.2020 would be entitled to extension of limitation till the 90th day from 15.03.2021. The Learned Counsel submitted that the Order of NCLAT in dismissing the Appeal, without considering the effect and impact of the Orders of the Hon'ble Supreme Court in Suo Motu Writ Petition, was set aside. * It is submitted that the Appellant had showed 'sufficient cause' for not submitting the claim within the prescribed tim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the commencement date. * The Code provides the fixed time line for each and every activity to be performed by the Liquidator and the Liquidator is not empowered to condone the delay in receipt/collation of the Claims from the Creditors in terms of the Code. * Delay under Section 42 of the Code can only be condoned if the Appellant is able to show 'sufficient cause' in filing the Claim belatedly. The Learned Counsel placed reliance on the following judgments in support of his case : Ramlal V. Rewa Coalfields Ltd AIR 1962 SC 361 State of West Bengal Vs. Howrah Municipality AIR 1972 SC 749 Assistant Commissioner of Commercial Taxes Vs. Right Engineers & Equipment India (P) Ltd (Company Appeal (AT)(Ins) No.255 of 2021. * It is str ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding the actual balance period of limitation remaining, all persons shall have a limitation period of 90 days from 15.3.2021. 8. Keeping in view the facts of the attendant case and the observations made by the Hon'ble Supreme Court in Suo Motu Writ Petition dated 08.03.2021, this Tribunal is of the earnest view that the delay in filing the Claim before the Liquidator be condoned as this Tribunal is satisfied that the cause ascribed is reasonable and construes 'sufficient cause'. Without delving into the merits of the Claim, this Tribunal is of the considered opinion that the Appellant be given an opportunity to present his Claim before the Liquidator within a week from the date of this Order. Needless to add, we have not made any observati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... jected the Claim on the ground that it was received subsequent to the last date for submission of Claim which was specified to be 28.08.2020 in the 'Public Announcement' made as per Regulation 31(2) of the Liquidation Regulations, 2016. A perusal of the material on record shows that the Appellant has filed an Affidavit before the Adjudicating Authority, dated 16.03.2021, that on account of the ongoing Covid 19 pandemic and taking care of the elderly having co-morbidities, she could not immediately meet or contact a Counsel or collate the required data. She was able to collate the data only in the last week of October, 2020 and the Claim was sent through Email. On being informed that the Claim was not delivered to the Liquidator, once again ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
