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2022 (9) TMI 858 - AT - Insolvency and BankruptcyApproval of the Resolution Plan - Acceptability of claim of debts which remain unverified during CIRP - Section 31 of I&B Code - HELD THAT:- In the instant case, the information sought for by the RP vide email dated 16.04.2019 was provided by the Appellants vide email dated 12.07.2019, after a clear gap of three months. There are no substantial reasons given for this delay of three months specially keeping in view that IBC mandates a time bound process. It is also not in dispute that the Appellant represented the Ex-Directors of the ‘Corporate Debtor’ in their personal capacity and therefore the Resolution Professional sought for information from the Appellant herein to ascertain the liability of the ‘Corporate Debtor’ against the claims preferred by the Appellant. Admittedly, the Resolution Plan of the ‘Corporate Debtor’ was passed by a majority of 87.57% Voting by the CoC Members way back on 17.10.2019 and this Application was preferred by the Appellants in September, 2019, which was listed on 22.10.2019 and disposed of vide Order dated 17.03.2021. In the absence of any cogent reasons for having delayed supplying the information to the RP who had sought for clarification on 16.04.2019, but the Appellant had admittedly provided the information only on 12.07.2019 after 90 days after the receipt of the email. This Tribunal is of the earnest view that the Successful Resolution Applicant cannot be asked to face with undecided claims after the Resolution Plan submitted by him has been accepted by the Committee of Creditors as this would amount to lot of uncertainty - Appeal dismissed.
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