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2021 (3) TMI 304 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , NEW DELHINBFC kept the shares and transferred debt to the Appellant (Another NBFC) in the course of ‘Corporate Insolvency Resolution Process’ - Entitlement to be included in Committee of Creditors - HELD THAT:- When Respondent No. 2 was treated as “Financial Creditor (related party)” Respondent No. 2 had challenged the decision of Insolvency Resolution Professional before the Adjudicating Authority vide I.A. No. 677 of 2019. There is order dated 20.11.2019 (Page 221 of the Appeal Paper Book) which shows that for reasons recorded in that order, especially in paragraph 10 benefit of 2nd Proviso to Section 21(2) of IBC was not given and the claim of the Respondent No. 2 that it was not a related party, was rejected. In paragraph 11 of the Order the acceptance of Part claim of Respondent No. 2 was not disturbed and for balance liberty was given to approach Resolution Professional. There is no dispute with regard to the fact that such Order of the Adjudicating Authority was not challenged by anybody and especially Respondent No. 2 and that the Order has attained finality. Undisputedly, when the claim was made before the Resolution Professional, at that point of time the Assignment Deed dated 18th May, 2020 was not yet registered and the Resolution Professional mentioned this in his letter dated 11th June, 2020 as one of the reasons why he was not acting upon the same. At the time of arguments, we had asked specifically asked the Counsel for Appellant if the Appellant again made a claim before the Resolution Professional after registering the document on 18th May, 2020 - We do not find fault with the Adjudicating Authority for the observations that when the claim was made before the Resolution Professional the document being unregistered, the Resolution Professional rightly ignored the same. Appeal dismissed.
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