9911796707
TMI Blog2022 (7) TMI 50X X X X Extracts X X X X X X X X Extracts X X X X ..... udicating Authority when the plan was filed by the Resolution Professional and was considered - It is an admitted position that the present applicant never approached the Adjudicating Authority when the Resolution Plan was pending approval. It is not understood in what capacity Resolution Professional could have addressed any communication after the approval of the Resolution Plan on 7th of April, 2022, thereby advising the applicant to do anything as stated in his e-mail dated 25th of April, 2022. It is an established position of law that once the Resolution Plan is approved the role of Resolution Professional comes to an end. It is thus opined that the role of the RP came to an end after the Resolution Plan was approved and therefor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... licant; c. In the alternative, the respondent No. 1 be directed to deliver 2764 MT of stainless steel flat in terms of the purchase orders immediately. d. The respondent No. 3 be directed to set apart a sum of Rs. 5,70,90,760/- from the fund allocated for CIRP Cost till disposal of this instant application; 3. The applicant has stated in this application that it has raised some claims with the Corporate Debtor vide communication dated 17th December, 2021 and the same is mentioned in Annexure- C with this application. It is stated that the applicant addressed an email dated 17th January, 2022 to the respondent No. 1 2, thereby informing the respondents no. 1 and 2 that due to their failure to supply the quantity of goods a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Respondent No. 2 who was the Resolution Professional, regarding the supply of entire consignment. Respondent No. 2 continued to assure the applicant that sooner or later the entire quantity of consignment would be delivered. Despite receiving assurances from respondent No. 2, the Applicant by way of letter dated 15th December, 2021 requested respondent No. 2 to expedite the supply of the above referred material. Copy of letter dated 15th December 2022 is annexed to the application as Annexure B. 8. The applicant issued debits notes upon respondent No. 1 on 17th December, 2021 for making good of losses amounting to Rs. 5,70,90,760/- suffered by the applicant on account of the failure of the respondent No. 1 to supply 2764 MT of stainles ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ade by the applicant therein were also came to be decided. Admittedly the applicant in the present IA under consideration was not applicant before this Adjudicating Authority when the plan was filed by the Resolution Professional and was considered. iii. It is an admitted position that the present applicant never approached the Adjudicating Authority when the Resolution Plan was pending approval. iv. It is not understood in what capacity Resolution Professional could have addressed any communication after the approval of the Resolution Plan on 7th of April, 2022, thereby advising the applicant to do anything as stated in his e-mail dated 25th of April, 2022. It is an established position of law that once the Resolution Plan is approve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 [Para 95] Considering the abovementioned judgment, and in view of the admitted position the applicant did not approach this Adjudicating Authority when the Resolution Plan was under consideration and had come before this Adjudicating Authority after the approval of the plan, this Adjudicating Authority is of the opinion that he has no right to file any application or seek any relief at this stage. 13. The present application being I.A. (IB) No. 456/KB/2022 is therefore rejected. 14. Certified copy of this order, if applied for, be supplied to th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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