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TMI Blog2022 (10) TMI 811X X X X Extracts X X X X X X X X Extracts X X X X ..... payment of dues arising under any law for the time being in force, such as authorities to whom statutory dues are owed,) guarantors and other stakeholders involved in the Resolution Plan. Once the plan has been approved by the CoC and by the Adjudicating Authority it binds upon the creditors and other stakeholders as per Section 30(1) of the Code - From the documents, it is evident that the RP vide its letter dated 22.05.2020 requested the Appellant to submit the claim in Form-B and also sent a reminder dated 25.05.2020 to the Appellant whereby it is stated that the RP has not received the claim with documents for verification and acceptance of claim - The claim of the Appellant has been settled in the plan under the category L and the plan has been approved with 100% voting share of the CoC members and also approved by the Adjudicating Authority in compliance of Section 31 of the I B Code. Once the plan is approved it shall bind on the creditors and other stakeholders. This Tribunal comes to an irresistible and inescapable conclusion that the order passed by the Adjudicating Authority in approving the Resolution Plan vide order dated 16.04.2021 is in accordance with law an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The IRP vide his mail dated 10.09.2019 stated that he is no more continuing as IRP and one Mr. Nimit Kalsi has been appointed as the RP. 6. The Appellant again addressed a letter to the RP regarding its claim. The RP sent a mail dated 22.05.2020 to the Appellant stating that the claim has been duly received and still pending for admission. The Appellant also sent a mail dated 11.02.2021 to the RP for inclusion the name of the Appellant in the list of Operational Creditors. The RP vide his letter dated 30.04.2021 informed the Appellant that the Resolution Plan has been approved by the Adjudicating Authority vide impugned order dated 16.04.2021. Further, the RP informed that the Appellant has not filed any claim, however, the Resolution Applicant in good faith dealt with the dues of the Appellant on the basis of books of accounts and observed that a credit balance of Rs.23.29 lacs is reflected and an amount of Rs.46,595/- was provided towards settlement of dues. 7. It is submitted that the RP failed to appreciate to examine the books of accounts and other documents of the Corporate Debtor for the purpose of determining the liability, however, included the Appellant in Categor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... view of the reasons as stated above, it is submitted that the Appellant has not made out any case, either on facts or on law, accordingly, requested the Bench to dismiss the Appeal being devoid of any merits. 2nd Respondent s Submissions 13. The Learned Counsel appearing for the 2nd Respondent submitted that the RP filed an application being I.A. No. 7/2021 in CP (IB) No. 3448/2018 before the Adjudicating Authority, NCLT, Mumbai Bench seeking approval of Resolution Plan and the Adjudicating Authority allowed the application by approving the Resolution Plan vide order dated 16.04.2021. 14. It is submitted that the CIRP commenced against the Corporate Debtor by an order dated 08.03.2019 by the Adjudicating Authority, NCLT, Mumbai Bench. Thereafter, the IRP received the claims from the Financial Creditors, Operational Creditors and claims from employees and workmen of the Corporate Debtor. The IRP conducted the meetings of Committee of Creditors from time to time. It is not in dispute that the Appellant initiated the arbitration proceedings against the Corporate Debtor for recovery of claim of Rs.1,33,62,369/- and the Corporate Debtor contested the said arbitration proce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5/- has been provided in the plan. The Appellant though aggrieved by the order dated 16.04.2021 whereby the Adjudicating Authority approved the Resolution Plan of the Successful Resolution Applicant upon an application filed by the IRP under Section 30(6) of the I B Code, 2016. However, the Appellant sought an order / direction in this Appeal to consider its claim. 21. The Corporate Debtor admitted in to CIRP by order dated 08.03.2019 and the IRP made a public announcement on 09.03.2019 inviting claims from the creditors of the Corporate Debtor. After receipt of claims the IRP constituted Committee of Creditors on 01.04.2019 and conducted its first meeting of the CoC on 08.04.2019. The Appellant contended that it has submitted its claim on 16.04.2019 to the then IRP claiming an amount of Rs.1,81,72,824/-. Further, it is contended that the Appellant addressed a letter dated 29.08.2019 to the then IRP viz. Mr. Ashish Vyas regarding the status of the claim filed by it. On the other hand, the IRP vis. Mr. Ashish Vyas vide its e-mail dated 11.09.2019 addressed to the Appellant stating that the details of claims were uploaded at the website of the Corporate Debtor, http://www.tespl.co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lication bearing No. 3228 of 2019 seeking inclusion its claim as an Operational Creditor, before the Adjudicating Authority in September, 2019. However, the Adjudicating Authority dismissed the said application on 25.11.2019 with a direction to approach the RP. While so, despite the request by the IRP for submission of claim in Form-B with proof, the Appellant has not submitted its claim as evident from the documents. Thus, in the Resolution Plan the Operational Creditor who have not filed their claims categorised as L i.e. other creditors. Under the said category total admitted claims are Rs. 172.68 and the proposed amount to be paid is Rs.3.45 lakhs. Finding: 24. Admittedly, the application filed by the Resolution Professional under Section 30(6) of the I B Code, 2016 seeking approval of the Adjudicating Authority. The Adjudicating Authority after satisfying that the plan is incompliance of sub-section (2) of Section 30 and meets the requirement and as approved by the Committee of Creditors under sub-section (4) of Section 30. If the above, compliance is met, the Adjudicating Authority shall by order approve the Resolution Plan which shall be binding on the Corpora ..... X X X X Extracts X X X X X X X X Extracts X X X X
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