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TMI Blog2022 (6) TMI 825X X X X Extracts X X X X X X X X Extracts X X X X ..... en the resolution plan is approved by the Adjudicating Authority, the claims as provided in the resolution plan shall stand frozen and will be binding on the corporate debtor, and its employees, members, creditors, including the central and state government or any local authority, guarantors and other stakeholders. On the date of approval of resolution plan by the Adjudicating Authority, all such claims which are not a part of resolution plan shall stand extinguished and no person will be entitled to initiate or continue any proceedings in respect to a claim which is not part of the resolution plan. This Adjudicating Authority is satisfied that the right of the Operational Creditor to seek remedy under section 9 of the Code has been extinguished - Petition dismissed. - CP (IB) No. 1337 /KB/2019 - - - Dated:- 13-6-2022 - Shri Rajasekhar V.K., Member (Judicial) And Shri Balraj Joshi, Member (Technical) For the Operational Creditor : Mr. Zeeshan Haque, Advocate Mr. Kaushik Banerjee, Advocate Mr. Sayak Chakraborty, Advocate For the Corporate Debtor : Mr. AK Shrivastava, Advocate Mr. Akash Sharma, Advocate ORDER Rajasekhar V.K., Member (Judicial): 1. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rd to the previous accounts were settled and after settling such dues and adjustments of payment made from time to time in the running and continuous accounts, and after settling all previous accounts, the balance confirmation was issued on 01.04.2016 for the financial year 01.04 .2016 to 31.03.2017. the same was re- confirmed on 01.04.2017 for the financial year 01.04.2017 to 31.03.2018 and subsequently on 01.04.2018 for the financial year 1.4.2018 to 21.02.2019. Thus, the said balance confirmation towards outstanding of the operational creditor was issued after reconciliation of the accounts. 9. The bills raised from 20 July 2013 to 10 October 2015 amount to an aggregate sum of Rs.31,08,005/- (Rupees Thirty-One Lakh Eight Thousand and Five Only). After reconciliation of accounts, the total pending outstanding amount from the corporate amounts to Rs.28,64,369.69 (Rupees Twenty-Eight Lakh Sixty-Four Thousand Three Hundred Sixty- Nine and Sixty-Nine Paise Only). The said corporate debtor had duly issued balance confirmation confirming that the said amount was due and payable by them to the operational creditor. The said balance confirmation was made from time to time and subseque ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8,64,368.69/- or any sum is due or payable by the Corporate Debtor. The Corporate Debtor states that the Purchase Order relates to the period from 2013 till 2015 and the last tax invoice was raised by the Operational Creditor on 10th October, 2015 as admitted by the Operational Creditor in the instant petition. As such, the said claims are barred by limitation. It is denied that any balance confirmation was issued or that any reconfirmation was given by the Corporate Debtor after reconciliation of the accounts. 16. The balance confirmation annexed as Annexure-D (Ledger Copy) in the main petition is a forged document. The Corporate Debtor states that the stamp of the Corporate Debtor and the sign of one Mr. Sumit Kumar have been forged by the Operational Creditor. The Corporate Debtor states further that no such person named Mr. Sumit Kumar is or was ever in the employment with the Corporate Debtor. The forgery committed by the Operational Creditor is a testimony to the mala fide conduct of the Operational Creditor. 17. There have been a series of mails sent by the Operational Creditor with mala fide motive starting from 27 January 2018 (whereas the last payment after settleme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... litigation, if there is even of little apprehension for repayment. After 21st February, 2019 when the Corporate Debtor refused to issue any balance confirmation in favour of the Operational Creditor and also failed to make payments, the Operational Creditor had no other alternative but to institute proceedings before this Adjudicating Authority for the ends of justice. 23. In spite of several E-mails issued to the Corporate Debtor 27 January 2018 and 14 June 2018, the Corporate Debtor did not even spell a word with regard to any of the proceedings with regard to the Corporate Insolvency Resolution Process which at all was initiated against the Corporate Debtor by an order dated 20th April, 2017. Analysis and Findings: 24. Heard the Ld. Counsel for the Operational Creditor and the Ld. Counsel for the Corporate Debtor and perused the records. 25. The date of default mentioned by the Operational Creditor is 24 July 2013, and the instant petition was filed on 09 August 2019. It is to be noted that the Corporate Debtor had was admitted into CIRP vide order dated 20 April 2017 in Company Petition 150/2017. Subsequently, a resolution plan also been approved by this Adjudica ..... X X X X Extracts X X X X X X X X Extracts X X X X
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