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TMI Blog2022 (6) TMI 1044X X X X Extracts X X X X X X X X Extracts X X X X ..... s considerable delay on the part of the former IRP Shri. Satiq Buhari to communicate the relevant papers to the Liquidator. However, the amount of Rs. 2,00,000/- is to be paid back to the Operational Creditor by the Liquidator, as the said amount is rightfully payable to him when the CIRP proceeds are finalized. The former IRP who appeared through VC stated that there is a delay on his part to reply the communication of the Liquidation and that the same may be excused. The 2nd respondent Liquidator stated that he is ready to accept the claim of Rs. 2,00,000/- if this Tribunal gives a direction to that affect. Since we find that the amount of Rs. 2,00,000/- is legally entitled to the Operational Creditor Shri. Amrjeeth Singh, we allow this Application and direct the 2nd respondent to refund the amount of Rs. 2,00,000/- to Shri. Amrjeeth Singh, the Operational Creditor/Appellant towards the initial expenses of CIRP during the time of distribution of assets from the proceeds from the sale of liquidation assets, with due priority as mandated under Section 53(1)(a) of the Insolvency and Bankruptcy Code, 2016. The 2nd respondent is also directed to modify the list of Stakeholders a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the expenses incurred and set off Rs. 1,30,000/- (Rupees one lakh thirty thousand) towards the initial expenses incurred by the IRP and the remaining Rs.70,000/- (Rupees Seventy thousand) as fee of the IRP till the 1st CoC. 3. Subsequently, the Corporate Debtor was put under liquidation vide order dated 11/01/2021 in IA/205(KOB)2020 and appointed the 2nd respondent herein Balakrishnan Baburajan as the Liquidator. The 2nd respondent made public announcement in two newspapers and the Appellant/Operational Creditor submitted his claim in Form-C. However, the Liquidator did not take into account the expenses incurred by the Operational Creditor towards the initial IRP expenses of Rs. 2,00,000/- (Rupees two lakh). 4. The Liquidator sent a letter dated 17/03/2021 to the Operational Creditor stating that the claim of Rs. 48,45,743/- (Rupees forty-eight lakh forty-five thousand seven hundred and forty-three) has been admitted, whereas, the claim of Rs. 27,26,627/- (Rupees twenty-seven lakh twenty-six thousand six hundred and twenty-seven) (interest) has been rejected. The said rejection was challenged by the Appellant in MA(IBC)/29(KOB)/2021. However, this Tribunal vide order dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dent herein for the refund of the amount paid by him towards meeting the initial CIRP costs. 7. The 2nd respondent filed a reply statement admitting that the Appellant had paid Rs. 2,00,000/- (Rupees two lakh) to the former IRP and that the same has been accounted in the minutes of the 1st meeting of the CoC. The Appellant filed an appeal MA(IBC)/29(KOB)/2021 before this Tribunal under Section 42 challenging the order of the Liquidator rejecting the interest portion of the claim submitted by the Operational Creditor, which was dismissed by this Tribunal vide order dated 21/12/2021. In the said appeal the Appellant stated that the Liquidator ignored the payment of Rs. 2,00,000/- (Rupees two lakh) despite intimation of the same but the Appellant had not made any request to the Liquidator prior to the filing of the said Appeal. The present request for reimbursement of Rs. 2,00,000/-(Rupees two lakh) has been made to the Liquidator only after the dismissal of the said appeal by this Tribunal vide order dated 21/12/2021. 8. The Appellant submitted the claim for Rs. 2,00,000/-(Rupees two lakh) only on 13/01/2022 i.e., after 367 (Three sixty-seven) days from the date of commencement ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g to Rs. 2,00,000/- (Rupees two lakh) paid by the Appellant to the IRP. 10. We have heard the learned counsel Shri. Arun Chand appearing for the Appellant and Shri. Balakrishnan Baburajan, Liquidator appeared through Video Conferencing (VC). As directed by this Tribunal the former IRP Shri. Satiq Buhari also appeared through VC. The only question to be answered in this appeal is whether the Operational Creditor is entitled to get back the amount of Rs. 2,00,000/- (Rupees two lakh) paid by him to the IRP to meet the initial expenses of CIRP. The Appellant has produced a receipt dated 12/01/2022 issued by the Former IRP Shri. Satiq Buhari which reads as under: Receipt with statement Received the deposited amount of Rs. 50000 (Fifty thousand) on 28/04/2020 and Rs. 150000 (One lakh fifty thousand) on 29/04/2020 from Amarjeet Singh, Proprietor, Vineet Enterprises, Ernakulam in accordance with the order of the Honourable NCLT, Kochi in IBA No. 35/KOB/2019 in respect of CIRP of Goodwin Packpet Private Ltd, Mulang, Thottippal PO, Thrissur The said amount of Rs. 200000 (Two lakhs) incurred towards CIRP cost by the IRP was resolved to be refunded to the applicant by th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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