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2021 (2) TMI 1231 - Tri - Insolvency and BankruptcyRejection of a portion of the claim as preferred by the Applicant - Section 60 (5) of the Insolvency and Bankruptcy Code (IBC) 2016 r/w Rule 11 of NCLT Rules of 2016 - HELD THAT:- IRP is to only merely collate the claim filed and not to dwell in to the transactions behind the Claim:-In relation to the submission of Learned Senior Counsel for the Applicant that the IRP is only required to collate the claim of the claimants based on the documents filed and nothing more, this Tribunal has its reservation in view of the recent developments which had taken place in law established by judicial pronouncements of the Hon’ble Supreme Court. In Phoenix ARC Private Limited -vs- Spade Financial Services Ltd and Ors [2021 (2) TMI 91 - SUPREME COURT] the Apex Court had an occasion to consider claims arising out of collusive transactions as between the claimant and the corporate debtor and where the IRP had rejected the claim made by the financial creditor applying his mind. It is clearly identifiable that in relation to IndusInd Bank facilities only the term loan amount had been reflected where as in relation to the Corporate Guarantee there had been no murmur on the part of the Applicant while the claim statement was filed initially on 04.05.2017. Thus, in the absence of any primary document/evidence being produced in relation to the Corporate Guarantee as given by the Corporate Debtor in relation to the loan availed by VDHPL, this Tribunal is constrained to uphold the decision of the IRP in rejecting the claim made in asum of ₹ 54.97,35,793/- by the Applicant. The IRP is directed to admit the claim of ₹ 180,92,22,164/- pertaining to assignment agreement dated 29.03.2017 between the IndusInd Bank and the Applicant in the capacity as an Assignee having been ‘kept in abeyance’ vide his communication dated 06.02.2020, however the decision of the IRP in relation to Corporate Guarantee alleged to have been given by the Corporate Debtor in relation to the loan availed by Vasan Dental Hospital Private Limited and amounting to a sum of ₹ 54,97,35,793/- being the amount claimed stands rejected. Application disposed off.
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