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2019 (9) TMI 1448 - Tri - Insolvency and BankruptcyIssuance of directions to the Interim Resolution Professional to accept and admit the claim of the applicant - direction to IRP to revise the list of creditors of the corporate debtor - HELD THAT:- Admittedly, the total claim of M/s. Edelweiss Assets Reconstruction Company Limited is only based upon the corporate guarantee dated 03.05.2018 for the purpose to secure loan sanctioned to the principal borrower vide loan agreement dated 07.10.2013 and nothing more. However, M/s. Edelweiss Assets Reconstruction Company Limited has lodged the very same claim, for admission in different insolvency processes respectively. Not only there is duplication of selfsame claim, but also the applicant financial creditor, if such duplicate claims are allowed, will enjoy proportionate voting rights in both the CoCs - No doubt the liability of guarantor is co-extensive with that of the principal debtor, however the applicant couldn't place any precedent in support of their contention that when a claim has been admitted in one CIRP, similar selfsame claim can also be admitted and pursued in other Insolvency Processes simultaneously. The finding of the Hon'ble NCLAT that for the same set of debt, claim cannot be filed by same 'Financial Creditor' in two separates 'Corporate Insolvency Resolution Processes' has not yet been varied, modified or set-aside nor has been stayed. Judicial discipline therefore demands that the precedent laid down by Hon'ble Appellate Court needs to be followed. The claim of the applicant being a repetition of the claim which already stands admitted in other insolvency process, cannot again be admitted in the present CIRP - Application dismissed.
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