9911796707
TMI Blog2023 (3) TMI 1284X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Claim, in relation to the pending amount 26.08.2019, one day after the last date for submission of the claim. The Liquidator had sent an email that the claim submitted by the Appellant, cannot be considered by the Liquidator as it is filed after the expiry of the last date for submission of the Claim . The Application I.A. No. 454 of 2020 pertains to release of the Pending Amount, and not in relation to the Admission of the Claim, filed by the Appellant, for the Condonation of the Delay. Therefore, this Tribunal, is of the considered view that there are no substantial grounds to interfere with the impugned Order dated 27.08.2021, whereby and whereunder, the Adjudicating Authority, had directed the Liquidator, to admit the Appellan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10.09.2015 from the Superintending Engineer, I CADD, Irrigation Circle, Khammam, Telangana, for an amount of Rs.8,21,42,561/-, pursuant to which the Company entered into an Agreement with the Appellant for executing the work as a Sub- Contractor , for execution of the project Minor Irrigation - Construction of Weir cum DLR Bridge at Khammam District, Telangana . The time period for execution and completion of the works was from 29.09.2015 to 31.07.2016. However, the work could not be completed on or before 31.07.2016 and therefore an extension was sought upto 31.07.2016. 4. The Learned Counsel for the Appellant submitted that based on the Final Quality Check Certificate , dated 30.05.2018, the Employer had raised a Final Bill ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd all the payments from the Employer shall be deposited into the Escrow Account. IVRCL shall give irrevocable standing instructions to the escrow banker to transfer the funds to the designated account of SGC after deducting the pro-rata IVRCL Margin. The charges for operation of the Escrow Account shall be borne by SGC Account reconciliation will be done every month between the parties and account settlement shall be done within 7 days after reconciliation. 8.4 IVRCL will release the payments to SGC in the said lines through escrow account only after receipt of corresponding payment from Employer. No interest charges shall be payable for delayed payments for whatsoever reasons. 5. It is submitted that as per the Clauses of this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Certificate . Merely, because the Quality Check Certificate , was received by the Appellant on 30.05.2018 i.e. after the initiation of Corporate Insolvency Resolution Process , the same cannot be said to be not payable in Full . 9. The Respondent / Liquidator submitted that the Adjudicating Authority , was right in dismissing the Application as the entire work was done prior to the CIRP period , and for amounts pending in relation to the same, the Creditor , is required to file its Claim with the Resolution Professional or the Liquidator , as the case may be, and after verification of the same, the Resolution Professional or the Liquidator , can admit or reject the Claim , as prescribed under the Code . 10. It is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of the CIRP and the same was brought to the notice of the Project Head , and the payment was hence kept pending. It is also the case of the Respondent , that the GST , was not included in the said amount as the work, was done prior to the GST regime. 13. A brief perusal of the comments made by the DGM of the Corporate Debtor , dated 21.09.2018, in relation to the work done prior to the CIRP period , and the GST period , evidences that the work , was indeed done prior to the CIRP period . 14. The contention of the Learned Counsel for the Appellant is that, it is the Liability , which is to be seen and considered and not the period during which the invoices were raised, is untenable keeping in view of the facts of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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