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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 ..... 1 was passed by the Adjudicating Authority in an application filed by the Resolution Professional under Section 30(6) of the I&B Code, 2016 seeking approval of Resolution Plan. The Adjudicating Authority after considering the application allowed by approving the resolution plan submitted by Mr. Ashok Atre, the SRA. 3. The Learned Counsel for the Appellant submitted that the Appellant is aggrieved by the impugned order on the ground that the claim of the Appellant has not been considered by the RP and the RP included the Appellant in Category 'L' and has agreed to pay only 2% i.e. Rs.46,595/- of the admitted claim of Rs.23,29,773/-. 4. It is submitted that the Appellant has initiated arbitration proceeding against the Corporate Debtor for recovery of Rs. 1,33,62,369/- and the said arbitration proceeding is at the stage of cross examination of Respondent's witnesses. 5. While so, the Corporate Debtor was admitted and CIRP Proceedings was initiated and IRP was appointed on 08.03.2019. The IRP issued a public announcement in Form 'A' and invited all the creditors to submit their claims. The Appellant submitted its claim along with its documents to the IRP vide e-mail dated 21.04.201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... had filed an application being M.A. No. 3228/2019 before the Adjudicating Authority seeking its impleadment as an Operational Creditor in the Insolvency proceedings. The Adjudicating Authority vide its order dated 25.11.2019 dismissed the said application and directed the Appellant to approach the RP. However, the Appellant did not comply the said directions. The RP i.e. 2nd Respondent herein, while finalizing the Information Memorandum for the Corporate Debtor observed that the claim of the Appellant was not on the record and therefore, he sent an e-mail to the Appellant on 22.05.2020 to file its claim and also sent a reminder to the Appellant vide an e-mail dated 25.05.2020. However, the Appellant did not file any claim with the 2nd Respondent in accordance with the procedure laid down in the Code. Therefore, the name of the Appellant included in the list of creditors who did not file their claims and the said list was part of the Information Memorandum. It is also mentioned regarding the pending arbitration proceedings between the Appellant and the Corporate Debtor. 11. Despite, the pending claims and counter claims between the parties, the claim of the Appellant was dealt with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evant documents and requested to do so urgently. However, the Appellant failed to provide requisite claim form along with documents, the IRP could not process and include the claim of the appellant in the Information Memorandum. 16. Further, the IRP again sent an e-mail dated 25.05.2020 stating that he had not received the claim form from the Appellant and requested to submit again. In spite of reminders the Appellants failed to submit its claim form with the IRP. 17. It is submitted that it is the duty of the IRP to check and ensure that the Resolution Plan falls within the ambit of and satisfies the provisions of Section 30(2) of the Code, 2016. Once, the said criteria is satisfied, it is for the CoC to take a decision and the IRP does not have any role. While so, in the present case, the CoC passed the Resolution Plan with 100% voting share. 18. In view of the reasons as stated above the Learned Counsel prayed this Bench to dismiss the Appeal. Analysis / Appraisal: 19. Heard the Learned Counsel appeared for the respective parties, perused the pleadings and documents filed in their support. After hearing the parties, this Tribunal intend to examine, whether the Appellant has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relevant documents for the purpose of acceptance of the claim of the Appellant and requested the Appellant to submit the claim immediately. 22. From the records it appears that the Appellant has not submitted its claim as requested by the IRP vide its e-mail dated 12.02.2021. However, the IRP vide its letter dated 30.04.2021 addressed to the Appellant stated that the Hon'ble Adjudicating Authority has approved the Resolution Plan in respect of the Corporate Debtor by an order dated 16.04.2021 and stated that the claim of the Appellant has been settled by providing a sum of Rs.46,595/- in the plan at column-6 of the plan. The copy of the approved Resolution Plan dated 14.08.2020 has been filed along with the appeal paper book. At page 90, the claim of the Appellant has been discussed whereas it is stated that the Appellant is the civil contractor for construction of the Corporate Debtor factory, and has invoked arbitration proceedings for recovery of Rs.172.59 lakhs and the dispute is non payment of dues for the execution of work. Further, it is stated that the corporate Debtor filed counter claims of Rs.30 lakhs on account of incomplete work by the Appellant. It is also stated th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. Despite the above request the Appellant has not filed its claim in Form-B with proof as required under Regulation 12(1) & (2) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, which read as under: "12. Submission of proof of claims. - (1) Subject to sub-regulation (2), a creditor shall submit [claim with proof] on or before the last date mentioned in the public announcement. [(2) A creditor, who fails to submit claim with proof within the time stipulated in the public announcement, may submit the claim with proof to the interim resolution professional or the resolution professional, as the case may be, on or before the ninetieth day of the insolvency commencement date.]" 28. The said amendment has substituted by notification dated 03.07.2018 and as per the above rules the creditor shall submit its claim with proof. The claim of the Appellant has been settle ..... X X X X Extracts X X X X X X X X Extracts X X X X
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