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2021 (5) TMI 433 - Tri - Insolvency and BankruptcyLiquidation of company - Treatment of claims of the Applicants submitted during the Corporate Insolvency Resolution Process confirmed by the Hon'ble National Company Law Tribunal - Claims by workmen and employees - direction to ensure that the Applicants herein are considered a part of the Scheme of the Corporate Debtor under Section 230 of the Companies Act, 2013 - HELD THAT:- The claim in respect of workmen and employees alone are required to be admitted by the Liquidator based on the books of accounts of the Corporate Debtor, eventhough the Workmen and Employees have not preferred a claim before the Liquidator as per Regulation 19(4) of the IBBI (Liquidation Process) Regulations, 2016 and no such relaxation is granted/available to the Operational Creditor like the Applicants herein or for that matter for any other class of creditors. Thus filing of the claim with the Liquidator during the Liquidation process within the time period stipulated thereunder is a mandatory requirement under the IBC, 2016 and also it must be noted here that the mere entry of debt in the books of accounts of the Corporate Debtor is also not evidential enough for the claims to be admitted and considered by the Liquidator. It must be borne in mind that the IBC treats the CIRP and Liquidation process as two separate stages and the proof of claim is to be filed separately at each stage and hence the submissions of the Learned Counsel for the Applicant that claims filed during CIRP should be treated as the Claim filed during the Liquidation process would render the CIRP and Liquidation Process as envisaged under the provisions of IBC, 2016 as nugatory. Under Regulation 44(1) of the IBBI (Liquidation Process) Regulations, 2016, the Liquidator is directed to liquidate the Corporate Debtor within one year from the date of commencement of the liquidation proceedings and Regulation 44(2) stipulates that, after the expiry of one year, the liquidator shall file an application to the Authority to continue the liquidation period along with a report and explain why the liquidation has not been completed - Thus, it can be seen that the Liquidation is a time bound process and the Liquidator is being made accountable and required to explain, if there is any delay caused in the liquidation process. In view of the IBC, 2016 being a time bound process as well as the Learned Liquidator being under a compulsion to complete the liquidation process within a period of one year from the date of commencement of liquidation, the application stands dismissed
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