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2021 (1) TMI 1271 - Tri - Insolvency and BankruptcyPartial rejection of claim of applicant - seeking to follow procedures established by law and principles including principles of fairness, impartiality and transparency in the conduct of Corporate Insolvency Resolution Process (CIRP) - seeking to restraint RP from creating any third-party interest - HELD THAT:- The RP has rightfully partially accepted the applicant’s claim after due consideration of the documents provided to the IRP/RP. It is further observed that the RP has acted in accordance with the provisions of the Code and the applicable rules and regulations made thereunder and also followed the principles of law including the principles of fairness, impartiality and transparency. It is clear from the facts of the case that out of total settlement amount of Rs.12,00,00,000/- agreed between the parties as provided in the Consent Terms, the applicant had received substantial amount of Rs.10,00,00,000/- towards principal outstanding at the time of signing the Consent Terms and Rs.1,00,00,000/- less applicable TDS towards interest and thus the balance outstanding was Rs.1,00,00,000/- only. Therefore, this application needs to be dismissed and there is no wrong committed by the RP in deciding upon the claim of the applicant. Application dismissed.
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