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2022 (9) TMI 914 - Insolvency & Bankruptcy
Rejection of claim of the appellant by the liquidator - delay of submission of claim during the Liquidation process - HELD THAT:- Present is a case where after initiation of CIRP, the IRP himself has written a letter to the Appellant on 10.08.2017 asking the Appellant to make payment of dues to the Corporate Debtor in the Escrow Account of the Corporate Debtor, which letter was replied by the Appellant on 06.09.2017. The Appellant has clearly informed the IRP that Appellant is claiming a sum of Rs.12,20,72,608 from the Corporate Debtor.
It is noted by Adjudicating Authority in its impugned order that there was no response by the IRP to the letter dated 06.09.2017, thus, the claim of the Appellant was communicated to the IRP. The Appellant’s case is that they were not aware of the liquidation process and the publication made by the Liquidator. They could not file the claim within the period prescribed by the Liquidator vide publication dated 23.01.2020 and on 15.06.2021, the Liquidator sought balance confirmation from the Appellant, when they came to know about the liquidation proceedings.
The present is a case where the Appellant has informed about its claim to the IRP as early as on 06.09.2017 and the Liquidator himself sent letter dated 15.06.2021 asking the Appellant to make payment to the Corporate Debtor. The claim of the Appellant was forwarded to the Liquidator vide letter dated 21.07.2021 and 02.08.2021. Thereafter, the Liquidator wrote to the Appellant proposing settlement of old outstanding amount. The claim, thus, raised by the Appellant was under active consideration of the Liquidator and the view subsequently taken by the Liquidator on 07.01.2022 that claim was not filed within the time period is unsustainable.
In the present case Adjudicating Authority committed error in simply rejecting/ dismissing the Appeal of the Appellant without taking into consideration the detailed correspondence, which were exchanged between IRP/Liquidator and the Appellant. Furthermore, no process regarding auction of the assets of the Corporate Debtor has yet been initiated. Hence, in the facts of the present case and to meet the ends of justice, the Liquidator is directed to consider the claim of the Appellant herein - Appeal allowed.