TMI Blog2020 (7) TMI 55X X X X Extracts X X X X X X X X Extracts X X X X ..... hority observes that Petitioners of the aforesaid IAs are the Operational Creditors and they have submitted their claims in response to the public announcement made by the IRP/RP calling for claims from the creditors of the Corporate Debtor Company against whom the Corporate Insolvency Resolution Process was ordered by this Adjudicating Authority. In the respective Forms submitted by the Petitioners/Operational Creditors, the Petitioners/Operational Creditors submitted their claims along with the interest. However, the Petitioners/Operational Creditors were informed of their claims admitted by the IRP/RP without interest. Accordingly, the Petitioners/Operational Creditors should have raised their voice and concern at the time when the Resolution Plan in respect of the Corporate Debtor Company was approved by this Adjudicating Authority. Application disposed off. - I.A. NOS. 321 TO 327 OF 2019, CP (IB) NO. 48 OF 2017 - - - Dated:- 18-11-2019 - Ms. Manorama Kumari, Judicial Member And Chockalingam Thirunavukkarasu, Technical Member For the Appearing Parties : Mihir Thakore, Sr. Adv. Ms. Veena Sivaramakrishnan, Ms. Grishma Ahuja, Ms. Charu Misra, Shalin Jani, Advs. Arjun R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 19 on 10-6-2019 The instant IA. No. 326 of 2019 on 10-6-2019 The instant IA. No. 327 of 2019 on 10-6-2019 2.1 Facts of IA No. 321 of 2019 to IA No. 327 of 2019 2.2 For the sake of convenience, the facts of IA No. 321 are mentioned hereunder in detail. However, the facts of the other IAs are of similar nature with or less similar prayers, hence not dealt with separately. 2.3 The IA No. 321 of 2019 in CP(IB)No. 48/2017, is filed by the applicant, the Operational Creditor of the Corporate Debtor Company, who is a supplier of raw materials to the Corporate Debtor that are essential for the immediate functioning of the Corporate Debtor M/s. Alok Industries Limited, under section 60(5)(C) of the Insolvency Bankruptcy Code, 2016 with the following prayers: (a) Pass order directing the Respondents to place on record all the minutes of the meetings of the CoC of the Corporate Debtor and all relevant correspondence/documentation etc. pursuant to which the payments and the payment advices came to be released to the Applicant during CIORP Period. (b) Pass appropriate order directing the Respondents to pay to the Applicant for the invoices raised by it on the Corporate Debt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iolation - as per section 15 of the MSME Act. The RP in the List of Operational Creditors declined to consider the interest holding: Difference is on account of interest claimed which is not admissible, since no explicit agreement or PO terms support the interest claimed. 2.7 It is stated by the Applicants that Corporate Debtor/RP requested for urgent supply of chemicals as they were necessary to keep the Corporate Debtor running as a going concern, through email and assured payment of past invoices and protection of supplies made during CIRP as IRP cost. Due to these twin assurances by the Corporate Debtor through the RP, the Applicants agreed to provide raw materials to the Corporate Debtor. 2.8 A summary of the accounts, as per Form B, of all the Applicant Companies are given hereunder: Sr. No. DETAILS IA 321 IA 322 IA 323 IA 324 IA 325 IA 326 IA 327 1 AMOUNT OF CLAIM AS PER FORM-8 45,70,78,910 6,47,90,800 4,04,95,771 9,76,52,835 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o. 415 and 416 of 2019 against the order of this Bench delivered on 8th March, 2019 seeking reliefs inter alia for the payment of invoices as CIR process cost in terms of the Insolvency Bankruptcy Code, 2016. The Hon'ble Appellate Tribunal vide its order dated 30th April, 2019 declined to express any opinion and directed the Applicant to move before appropriate forum or appropriate Court against the decision of the interim resolution professional/resolution professional. 3.1 On perusal of the records, it is also found, that though the Applicants have mentioned in their respective applications that CD/RP assured them, payments of past invoices and protection of supplies made during CIRP as per IRP Cost, this Adjudicating Authority do not find any evidence, in the form of any communication, in black and white to prove their contentions. We have also observed that RP vide his e-mail dated 25-10-2018 informed the Applicant that all payments made on or after 18th July, 2017 until today have been against the supplies made by the Applicant since 18th July 2017 and the Applicant would be free to set off their bills against supplies made by the Applicant from 18th July 2017 onwards ..... X X X X Extracts X X X X X X X X Extracts X X X X
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