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2019 (2) TMI 1639 - AT - Insolvency and BankruptcyWhether the 'Resolution Professional' has jurisdiction to decide or reject the claim of one or other 'Financial Creditor' or 'Operational Creditor'? HELD THAT:- Similar issue fell for consideration before this Appellate Tribunal in 'M/s. Dynepro Private Limited' vs. Mr. V. Nagarajan [ 2019 (3) TMI 451 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI ]. The Appellate Tribunal has held that 'Resolution Professional has no jurisdiction to decide the claim of one or other creditor, including 'Financial Creditor', 'Operational Creditor', 'Secured Creditor' or 'unsecured Creditor'. Referring to sub-section (6) of Section 60 of the 'I&B Code', this Appellate Tribunal further observed that after completion of the period of moratorium, a suit or application can be filed against the 'Corporate Debtor'. Notwithstanding the order passed under Section 31 of the I&B Code (any existing law), it is open to a person to file a suit or an application against the 'corporate debtor' after completion of the period of moratorium. In the present case, it is informed that the 'resolution plan' has already been approved by the 'Committee of Creditors' and the 'Resolution Professional' had placed the same before the Adjudicating Authority on 4th October, 2018 in 'M/s. Prasad Gempex' with regard to the 'corporate insolvency resolution process' initiated against 'M/s. Star Agro Marine Exports Pvt. Ltd.' (subject matter of Company Appeal (AT) (Insolvency) No. 291/18). A 'resolution plan' has already been approved and placed before the Adjudicating Authority (Chennai) on 4th October, 2018. However, till date no order under Section 31 has been passed. We find that 270 days have passed - we direct the Adjudicating Authority (National Company Law Tribunal), Chennai to pass appropriate order under Section 31 of the I&B Code on the 'resolution plan' as approved by the 'Committee of creditors', if not yet passed, by 22nd February, 2019. We allow the appellant - 'M/s. Prasad Gempex' to file claim in terms of sub-section (6) of Section 60 before the appropriate court of law or may file appropriate application against the 'corporate debtor' namely 'M/s. Star Agro Marine Exports Pvt. Ltd.', if the 'resolution plan' is approved and do not take proper care of the applicant - appeal disposed off.
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