9911796707
TMI Blog2022 (10) TMI 199X X X X Extracts X X X X X X X X Extracts X X X X ..... nd, hence, the prayer of the applicant can't be acceded to - The prayer of the applicant is not acceded to - Application dismissed. Seeking cancellation/modification of the resolution plan of C Mohan International - Section 36(4)(iii) of the IBC, 2016 - HELD THAT:- The SRA has filed a compliance affidavit by Spl. Diary No. 268 dated 30.08.2022 - In view of the compliance affidavit by SRA, the present application IA No. 519/2021 is rendered infructuous and disposed of accordingly. - IA No. 514/2021 and 519/2021 in CP (IB) No. 250/Chd/Pb/2018 - - - Dated:- 12-9-2022 - Harnam Singh Thakur , Member ( J ) And Subrata Kumar Dash , Member ( T ) For the Appellant : Jatin Singhal , Practising Company Secretary and G. S. Sarin , Pra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 03.12.2021 stated that the applicant had filed its claim in Form B on 10.09.2021, and it was way beyond the period of 90 days stipulated as the last date to file claims before the Resolution Professional as per Regulation 12(2) of the CIRP Regulations. The total delay in filing of the claim is more than 543 days from the last date. In the present case, the CIRP was initiated on 17.12.2019, and the resolution plan was approved on 13.11.2020, whereas the applicant filed his submission in Form B only on 10.09.2021. 5. The facts narrated above are not disputed by either party. 6. We have heard the learned counsel for the applicant as well respondent and have perused the records carefully. 7. The applicant has placed reliance on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reme Court in the case of CoC of Essar Steel India Ltd., which have been extracted in the aforementioned decision of the Hon'ble NCLAT as below:- 88. For the same reason, the impugned NCLAT judgment in holding that claims that may exist apart from those decided on merits by the resolution professional and by the Adjudicating Authority/Appellate Tribunal can now be decided by an appropriate forum in terms of Section 60(6) of the Code, also militates against the rationale of Section 31 of the Code. A successful resolution applicant cannot suddenly be faced with undecided claims after the resolution plan submitted by him has been accepted as this would amount to a hydra head popping up which would throw into uncertainty amounts paya ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spondents No. 1 to 8/CoC Members/Financial Creditors ); Mr. Nipan Bansal, Resolution Professional (herein referred as Respondent No. 9); and C Mohan International, Resolution Applicant (herein referred as Respondent No. 10). 2. The applicants have prayed to cancel/modify the resolution plan of C Mohan International, which is stated to be against the provisions of Section 36(4)(iii) of the IBC, 2016, as per which the provident fund and gratuity fund cannot be included as assets of the corporate debtor; or direct the respondent to disburse the amount of provident fund along with the interest and gratuity fund of the applicants estimated around Rs. 4.0 Crores. 13. In the said application, several allegations were made against the functionin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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