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2022 (8) TMI 418 - Tri - Insolvency and BankruptcyRejection of claims - time limitation - delay in filing the same as the extended period of 90 days under Regulation 12(2) of IBBI (CIRP) Regulations, 2016 in the present case had expired on 04.01.2022 - HELD THAT:- In the present case, the claims were filed on 07.02.2022/11.02.2022, and subsequently, the Resolution Plan was approved by the CoC on 28.02.2022. The operational creditor is a regular business associate of the corporate debtor having the principal amount of claim reflected in the Books of Account of the CD.Despite this back ground, it is apparent that the claims were not put up by the respondent-Resolution Professional with his observations before the CoC before the same was rejected. The issue of attachment of the wrong documents could have been addressed by the respondent-Resolution Professional by simply requisitioning the right documents and does not in itself give an excuse for not considering the claim. Hon’ble NCLAT in the matter of SUMAT KUMAR GUPTA, RESOLUTION PROFESSIONAL, M/S VALLABH TEXTILES COMPANY LIMITED VERSUS M/S VARDHMAN INDUSTRIES LIMITED [2022 (7) TMI 1252 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHI], wherein the Hon’ble NCLAT, inter alia, considered the issue of whether serious efforts were made by the Appellant/Resolution Professional in properly verifying the claim submitted before him by the Financial Creditor including classifying the debts into financial and operational debts. In the present case the claim was received by the respondent-Resolution Professional before the approval of the resolution plan by the CoC in its 5th meeting held on 28.02.2022. Keeping in view of the above observations of the Hon’ble NCLAT, we hold that in the present case, an opportunity should have been given to the applicant by the respondent-Resolution Professional to rectify the mistakes in the claim form. The claim should not have been rejected summarily without presenting the complete facts to the CoC - Application allowed. Direction to respondent-Resolution Professional to collate the claim of the applicant and to put the applicant’s name in the list maintained for this purpose - direction to respondent-Resolution Professional to give the voting rights to the applicant - HELD THAT:- In the present case, the claims were filed on 17.02.2022, and subsequently, the Resolution Plan was approved by the CoC on 28.02.2022. The operational creditor is a regular business associate of the corporate debtor having the principal amount of claim reflected in the Books of Account of the Corporate Debtor. Despite this background, it is apparent that the claims were not put up by the respondent-Resolution Professional with his observations before the CoC before the same was rejected - In the present case, the claim was received by the respondent-Resolution Professional before the approval of the resolution plan by the CoC in its 5th meeting held on 28.02.2022. In the present case, an opportunity should have been given to the applicant by the respondent-Resolution Professional to rectify the mistakes in the claim form. The claim should not have been rejected summarily without presenting the complete facts to the CoC. In view of this, the respondent-Resolution Professional is directed to consider the claim of the applicant including its claim for voting rights on merits afresh and present the complete facts with his observations thereto before the CoC, for taking a final decision on the admissibility of the claim. Application allowed.
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