Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + Tri Insolvency and Bankruptcy - 2022 (5) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (5) TMI 488 - Tri - Insolvency and BankruptcyConsideration of claims - seeking to include claims submitted by the Petitioner in Form C under Regulation 17 of the Insolvency and Bankruptcy Board of India (Liquidation Process), 2016, in the list of stakeholders for adjudication - HELD THAT:- From a reading of the order of the Hon’ble Supreme Court in IN RE COGNIZANCE FOR EXTENSION OF LIMITATION, it can be deciphered that even though there is a delay of 361 days in submitting the claim by the Appellant before the Liquidator, in view of the dictum laid down by the Hon’ble Supreme Court of India, this delay may be condoned in respect of the claim made by the Appellant before the Liquidator. The Liquidator during arguments stated that in case the Adjudicating Authority condones the delay and direct the Liquidator to accept the claim, he is ready to accept the claim of the Appellant herein. The contention of the Liquidator that in case the claim of Appellant is admitted, they have priority over the Operational Creditor cannot be accepted, because the governmental claim cannot be neglected for the benefit of other stakeholders. Considering the Appellant being a governmental authority and in view of the judgment of the Hon’ble Supreme Court, this Appeal is allowed and the Liquidator is directed to accept the claim made by the Appellant before him on 17.02.2022 and take appropriate decision on the claim of the Appellant, in accordance with the extant Rules and Regulations - application disposed off.
|