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TMI Blog2025 (1) TMI 949X X X X Extracts X X X X X X X X Extracts X X X X ..... Thus, the Appellants were well aware that claim has to be filed by email at the email address or at New Delhi address, mentioned above. Thus, the pleadings made by the Appellant itself prove that there was no claim filed as per public announcement. Hence, the plea of the RP has to be accepted that claim for the first time was filed on 07.02.2020. The Appellants case also is that on 07.02.2020 they have submitted their claim, after receiving the email from the RP. The Appellant never filed any claim on 11.01.2019 and the claim for the first time was filed on 07.02.2020. The Resolution Plan, which is brought on the record as Annexure A-4, is dated 24.08.2019, which was finally approved on 04.09.2019. Thus, the Clause 18.4 (xi) has to be read with reference to the date when the Plan was approved. On the date, when Plan was approved, the Appellant has not filed the claim, admittedly. Their case of submitting claim on 11.01.2019 has not been accepted as noted above. The purpose and object of Clause 18.4 (xi) is to even protect those allottees, who have not filed the claim, so as to consider their claims on merits and the claims, which were not filed, were not extinguished for the purpos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g the creditors to submit their claims. (iv) On 29.10.2018, the Appellants submitted their claim Form regarding their Plot in IREO Hamlet Project. No claim was submitted with regard to Apartment. Consumer Complaint filed by the Appellant was pending before the Consumer Commission. On 13.12.2018, Consumer Complaint was disposed of by the Consumer Commission on account of imposition of moratorium after initiation of CIRP against CD vide order dated 17.10.2018. (v) The Appellants claim that on 11.01.2019, Col. K.K. Verma, father of Appellant No.2 physically submitted the claim Form on behalf of the Appellant for the Apartment, IREO Rise (Gardenia) Project Office at IREO Rise, Sector-99, Mohali. (vi) On 23.08.2019, Resolution Plan submitted by Consortium of One City Infrastructure Pvt. Ltd. and APM Infrastructure Pvt. Ltd. was approved. On 01.10.2019, the Resolution Professional ( RP ) moved an application under Section 30, sub-section (6) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the IBC ) seeking approval of the Resolution Plan before the Adjudicating Authority. On 31.10.2020, RP issued an email, intimating that those allottees, who are yet to file their ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent case, the claim has been filed by the Appellants, which has been verified and admitted and SRA has also been informed. Hence, the Appellants case are not covered by Clause 18.4(xi). It is submitted that contention that Appellants are entitled to only 50% of the total amount, as per Clause 18.4 (xi) is belied by the entry at S.No.636 in the List of Creditors, which admitted the Appellant s claim for full amount of consideration. Referring to Clause 18.4 (xv), it is submitted that units, which have not received claim on the Plan Effective Date, i.e., the date on which the Plan is approved by the Adjudicating Authority, would be available to the SRA for sale. The unit claimed by the Appellant is not available for SRA to sale, since the claim has already been submitted and accepted. The Appellant has also referred to judgment of this Tribunal in Puneet Kaur vs. KV Developers P. Ltd. Company Appeal (AT) (Ins.) No.390 of 2022 decided on 01.06.2022, to support his contention that those Homebuyers, who have made payment and their names are reflected in the list of creditors, are to be appropriately dealt with. 5. Learned Counsel appearing for the RP refuting the submission of the Appel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bmitted on 11.01.2019, whereas the case of Respondent is that claim for the first time was filed by the Appellants on 07.02.2020. The first question, which needs to be considered is as to what is the date, on which the Appellants can be said to have filed their claims. For answering the above question, we need to notice the averments made by the Appellant in the IA No.5579 of 2021, which was filed by the Appellants before the Adjudicating Authority. The copy of the IA has been brought on record as Annexure A-11. We need to first notice the prayers made in IA, which prayers are as follows: It is therefore, respectfully prayed that the present application may kindly be allowed by way of issuance of directions to the RP/present chairman of monitoring committee Mr. Pawan Garg and to the directors of One City Infrastructure Private limited and APM Infrastructure Private Limited i.e. Respondent No. 1 to 3 respectively to decide the Claim Form dated 11.01.2019 submitted by the applicants and for getting the conveyance deed of the apartment GBD-00-001 (Block D) in IREO RISE (Gardenia Block) executed and also by way of handing over its physical possession. And further to grant stay of sale/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no claim was received by the RP and for the first time, the claim was filed on 07.02.2020. The reply filed by the RP to the IA No.5579 of 2021 has been brought on record as Annexure-A12, where it is alleged that the claim was never submitted on 11.01.2019 and the claim was filed on 07.02.2020. Paragraph 7, 8 and 9 of the reply of the RP are as follows: 7. Thereafter, the SRA took control over the management of the Corporate Debtor and started implementing the Resolution Plan duly approved by this Tribunal. After the approval of the Resolution Plan the Applicants herein filed an application on 29.11.2021 before this Hon ble Tribunal praying for admission of the claim filed by the Applicants herein on 11.01.2019 wherein it was alleged that they had submitted their claim with the answering Respondent on 11.01.2019 at the official address i.e. project office, Ireo Rise, Sector 99, Mohali. However, it is pertinent to note here that neither the answering Respondent nor his staff members were operating from the office in Mohali. 8. Further, it is submitted that Form A published under Regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Pawan Kumar Garg IP Registration No.: IBBI/IPA-00 1/IP-P00608/2017- 2018/11069 9. Address and e-mail of the interim resolution professional, as registered with the Board 25-A, J-Pocket, Sheikh Sasrai- 2, New Delhi - 110017. E-mailid: [email protected] 10. Address and e-mail to be used for correspondence with the interim resolution professional 25-A, J-Pocket, Sheikh Sasrai- 2, New Delhi - 110017. E-mailid: pumarealtors. [email protected] 11. Last date for submission of claims November 1, 2018 (14 days from receipt of NCLT order i.e. October 18, 2018 via email in evening) 12. Classes of creditors, if any, under clause (b) of sub-section (6A) of section 21, ascertained , by the interim resolution professional Home Buyers (Financial Creditors) 13. Names of Insolvency Professionals identified to act as Authorised Representative of creditors in a class (Three names for each class) Mr. G. Jaishankar (IBBI/IPA-001/IP-P00953/2017-20!8/ 11573) 2. Ms. Anjali Sharma (IBBI/IPA-002/IP-N00400/201 7-2018/l1278) 3. Mr. Atul Mittal (IBBI/IPA-001/IPP00439/ 2017-18/10762) 14. (a) Relevant Forms and (b) Details of authorized representative are available at: Weblink: https://ibbi.gov.in/downloadfo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... There is no dispute between the parties that Resolution Plan was approved by the CoC on 23.08.2019. Copy of the Resolution Plan has been brought on the record by the Appellant as Annexure A-4. The relevant clauses, which has been relied by the Respondent as well as noted by the Adjudicating Authority, of the Resolution Plan is Clause 18.4, which dealt with unsecured Financial Creditors and allottees. Clause 18.4 (xi) and (xix) are as follows: 18.4 xi. It is clarified that any person claiming to be Allottee of the Corporate Debtor, who has not filed their claim with the Resolution Professional, or if filed, has not been verified by the Resolution Professional, or if verified, has not been informed to the Resolution Applicant shall not stand extinguished for a period of six months from the date of the approval of the Plan by NCLT and for this period they shall be dealt at the sole discretion of the Resolution Applicant according to the merits of the case, and by way of proper verification of the documents held by the Allottees. Upon determination of the genuineness of such claim, only 50% of the principle amount shall be refunded in Qtr 13. Any claims for compensation by the Allottee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he time. The Resolution Plan having been approved, all stakeholders, including allottees are clearly bound by the same. 16. We, thus, are of the view that claim, which was filed by the Appellant on 07.02.2020 was covered by Clause 18.4 (xi) and the Adjudicating Authority has rightly disposed of the Application. When we look into the prayers made in IA, as extracted above, the Appellant has prayed for direction to consider his claim to decide the claim Form dated 11.01.2019, submitted by the Appellant and sought direction to stay of sale/ transfer/ alienation of the apartment, handover physical possession and execution of Conveyance Deed of the apartment GBD-00-001, Ireo Rise (Gardenia). We have already held that the assertion of the Appellant of filing a claim on 11.01.2019, cannot be accepted and claim was only filed on 07.02.2020. Thus, the very basis of the prayers made in the Application by the Appellant is knocked out and the Appellant s claim, which was submitted subsequently to the approval of Resolution Plan of the CoC having been acknowledged by the RP in the list of creditors issued on 30.04.2020, the claim is entitled to be dealt as per Clause 18.4 (xi) and the Appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X
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