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2022 (6) TMI 678 - Tri - Insolvency and BankruptcySeeking recovery of the dues of the Corporate Debtor from the respondents - dues pertain to the period prior to the initiation of CIR process of the Corporate Debtor - Section 60(5) of IBC, 2016 read with Rule 11 of the NCLT Rules, 2016 - adjudicating authority, appropriate forum for recovery of dues or not - HELD THAT:- If any dues have to be claimed by the Corporate Debtor through its RP or Liquidator, the same can only be claimed under Section 43, 45, 66 of IBC, 2016 - since there is no averment made in the application that the transaction mentioned in the application are either preferential, undervalued or fraudulent, the question of exercising our jurisdiction does not arise. The Liquidator is eligible to file Civil Suit by taking due permission of this Adjudicating Authority in terms of Section 33(5) of IBC, 2016. From the conjoint reading of Section 63 of IBC, 2016 and proviso under Section 33(5) of IBC, 2016, it can be inferred that if a Liquidator is eligible or required to institute a suit or other legal proceeding on behalf of the corporate debtor, it can do so with prior approval of this Adjudicating Authority - further, the Adjudicating Authority is not a substitute to a Court of recovery therefore, this is not the appropriate forum to adjudicate such transactions. Application dismissed as being not maintainable.
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