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TMI Blog2022 (5) TMI 315X X X X Extracts X X X X X X X X Extracts X X X X ..... has been claimed in a tabular form. The paragraph indicates that CIRP cost also includes cost which has been incurred subsequent to the decision of the CoC on 17th May, 2021. There are no error in the Direction of the Adjudicating Authority for considering CIRP costs since major portion of the CIRP as claimed is subsequent to the resolution dated 17th May, 2021. It is the CoC which is to examine the factual aspects of the claim and take an appropriate decision, the Adjudicating Authority has not committed any error in directing the CoC to consider the CIRP cost and pass appropriate order. In the present case, the decision of the CoC on which reliance is placed are of 30th April, 2021 and 17th May, 2021 where fee has been approved. It is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 3. The Application was filed consequent to the Resolution of the CoC which could be decided by the Adjudicating Authority only on 24th February, 2022. The Adjudicating Authority after approving the replacement issued direction in paragraph 12 to the following:- Accordingly, I.A. No. 341/2021 is disposed of with the following directions: a. Mr. Khushvinder Singhal, Resolution Professional, shall hand over the entire record and the assets of the corporate debtor, if any, in his possession to the newly appointed Resolution Professional immediately; b. Mr. Vijay Kumar Gupta shall take over the charge of the entire records and assets of the corporate debtor and perform his duties, as required under the Code and the Regulation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . It is the CoC which is to examine the factual aspects of the claim and take an appropriate decision, the Adjudicating Authority has not committed any error in directing the CoC to consider the CIRP cost and pass appropriate order. 7. Mr. Abhishek Anand, Advocate further submits that in view of the Regulation 12 (3) proviso, the decision taken by CoC could not affect the validity of any decision taken by the Committee. Regulation 12 of CIRP Regulation, 2016 is as follows: 12. Submission of proof of claims. (1) Subject to sub-regulation (2), a creditor shall submit 21[claim with proof] on or before the last date mentioned in the public announcement. (2) A creditor, who fails to submit claim with proof within the time stipu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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