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TMI Blog2019 (10) TMI 375X X X X Extracts X X X X X X X X Extracts X X X X ..... ARIQ, MEMBER (JUDICIAL) For The Applicant : Mr S. Kannam For The Respondent/Liquidator : Mr Vasudevan For The Liqidator : Mr. K Moorthy ORDER CH. MOHD. SHARIEF TARIQ, MEMBER (JUDICIAL) 1. Under consideration are MA/259/2019 and MA/260/2019 filed in TCP/413/(IB)CB/2017, which are pertaining to the same subject matter, and are proceeded to be dealt with by a common order. 2. These Application ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 803,273/-, which includes his claim also, and the same constitues the acknowledgement of debt and the claim filed before the Liquidator on 04.07.2018 is within the period of limitation. 5. The Applicant has stated in MA/259/2019 that the Applicant during the period of August, 2018 to December, 2018 had been affected by jaundice and its relapse and added that the age related ailments have virtuall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e claim filed before him on 04.07.2018 is time barred and there does not arise any question for payment of interest as claimed by the Applicant. Besides this, it has been submitted by the Liquidator that the present appeal is filed along with the Application for condonation after the lapse of 175 days, which is liable to be dismissed as the time period stipulated under the provisions of Section 42 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... crore(s) and even if the claim of the Applicant is admitted, there is nothing to pay to him, as the Liquidator is not even able to meet out the liquidation cost. The assets are already given as collaterals to the secured Financial Creditors, who have decided to opt out of the liquidation process. 9. The provisions of Section 42 of the IBC, 2016, stipulate that a Creditor may appeal to the Adjudi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t slept over the claim and never initiated any legal action for recovery of the same from the Company. The Applicant has filed the claim before the Liquidator only on 04.07.2018, which suffers from the delay and laches. The Applicant moved to file the appeal against the rejection of his claim after the lapse of 175 days, which is an inordinate delay and no sufficient cause is shown. 11. In the ci ..... X X X X Extracts X X X X X X X X Extracts X X X X
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