Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2020 (10) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (10) TMI 590 - Tri - Insolvency and BankruptcyCIRP / Liquidation Proceedings - applicant has contended that the Liquidator committed serious error in not admitting the claim filed by the applicant and further the Liquidator committed error in not returning the Advance Bank Guarantees - HELD THAT:- It is true the applicant to produce necessary documents in support of the claim filed before the Liquidator. The liability of the Corporate Debtor will be decided only when supporting documents or invoices are filed. It is the case of the Liquidator that proforma invoices are not in the records of the Corporate Debtor. Then how the Liquidator can admit the claim of the applicant when there are no documents with the Corporate Debtor with reference to the alleged proforma invoice. There must be some proof before the Liquidator that such invoices were raised and filed with the Corporate Debtor. It is an admitted case of the applicant that goods were not dispatched to the Corporate Debtor. The goods were allegedly made ready and were lying with the units of the applicant. The specific case of the applicant is that the Corporate Debtor failed to lift the goods prepared according to the specification which was also inspected by the Inspecting Agency. There must be some evidence before the Liquidator. All necessary documents are to be filed with the Liquidator by the applicant by which the Liquidator would be able to decide the liability of the Corporate Debtor towards the applicant. The Liquidator cannot decide a dispute which is within the jurisdiction of a competent authority. The Liquidator is not an adjudicating authority on any dispute between the applicant and the Corporate Debtor. The Liquidator cannot assess the damages which are within the realm of a civil court against breach of contract. The applicant has not approached any civil court as of now for assessment of damages. When the Liquidator is expressing difficulty to admit the claim of the applicant on the ground of non-production of documents, etc. then the Tribunal cannot direct the Liquidator to admit the claim. The claim of the applicant is in the nature of damages for breach of contract. Therefore, we feel that the Liquidator has not committed any error in not admitting the claim. Invocation of Bank Guarantee - HELD THAT:- There is no fraud alleged in obtaining Bank Guarantee. An injunction cannot be given against invoking Bank Guarantee unless it is shown that a fraud of egregious nature is involved. In the present case there is no material to show that any fraud was played by the Corporate Debtor in obtaining Bank Guarantee from the applicant - the relief prayed for by the applicant to restrain the Corporate Debtor from invoking Bank Guarantee or to give a direction to the Liquidator to return the Bank Guarantee or to direct the Liquidator to Inform Bank of America that there are no claims against Bank Guarantee, cannot be granted. Application dismissed.
|