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2021 (8) TMI 1058 - Tri - Insolvency and BankruptcySeeking a direction upon the RP to include its claim of ₹ 9.02 crore, and, pending disposal of the application, direct that no Resolution Plan be considered or approved - Joint Venture agreement - HELD THAT:- Since it was an ongoing project and final accounts could not have been drawn up either at the stage of invitation of claims or the stage of approval of the resolution plan, the RP would have been well advised to make provision for a contingency in case the corporate debtor owed any dues to the applicant after finalization of accounts - there was a gross error of judgment on the part of the Resolution Professional, who is also a qualified Chartered Accountant, in not doing so. What compounds the problem is the same Resolution Professional has acknowledged the liability in the books of accounts of the corporate debtor while functioning as RP. Therefore, it does not stand to reason as to how this claim could not be included with the dues payable to the Operational Creditors. Here again is a case where immediately after the RP refused to accept the claim, the applicant knocked on the doors of this Adjudicating Authority seeking a determination of the claim of the applicant even before the approval of the Resolution Plan. While both matters i.e., this application as well as the application for approval of the resolution plan were heard and reserved for orders together, the erstwhile Bench approved the Resolution Plan alone while posting this application for hearing once again on 24.03.2020. No reason has been adduced in that order as to why this particular application was also not decided. The RP is hereby directed to draw up final accounts between the corporate debtor and the Joint Venture and include any claim payable to the applicant, in the list of operational creditors and also make payments under the resolution plan - Application disposed off.
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