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TMI Blog2021 (1) TMI 760X X X X Extracts X X X X X X X X Extracts X X X X ..... e Appellant filed I.As No. 505 of 2020 and 306 of 2020 before the Adjudicating Authority (National Company Law Tribunal, Ahmedabad Bench). These I.As were filed in CP (IB) No. 120/NCLT/AHM/2017 and the I.As came to be rejected on the basis that the claim which was sought to be filed late before the Liquidator itself was time-barred claim. 4. Thus the present Appeal. 5. The Learned Counsel for the Appellant refers to copy of the Application which was filed before the Adjudicating Authority. Copy of the same is filed with Diary No. 24669. The Application was filed under Section 42 of Insolvency and Bankruptcy Code, 2016 (IBC in short). The same was required to be filed as the Liquidator had sent communication Annexure F (Page 76) which was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cessary order(s): (1) Directing the Liquidator of ORG Informatics Limited (Under Liqn.) to accept and admit the claim of the applicant. (2) Condone the delay in filing of this petition and claim before the Liquidator due to aforesaid practical difficulty which was unintentional." 8. Thus the prayer made was that the Liquidator should not only accept the delayed claim but also admit the same. Learned Counsel for Appellant is now submitting that the Application should have been read as a whole and that in fact, what was sought, was only condonation of delay to file the claim and not with regard to considering the merits of the claim. 9. We are not impressed by the argument that when the Adjudicating Authority was called upon to consi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1.07.2014 the applicant has claimed his due amount form its employer. Had there been such huge claim, the applicant would have never sit idle without making any correspondence with his employer claiming the pending arrear dues or as the case may be. In view of that, it creates Iota of doubt on the very claim made by the Applicant. 23. With regard to the prayer for condonation of delay by the applicant and filing this application for his claim before the liquidator, which was rejected on the ground that the application was filed beyond the stipulated period, would have been condoned as the Hon'ble Supreme Court in its catena of the case have taken very liberal approach, but in the instant application the applicant cannot able to produce a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve been acquired in equity and justice by long enjoyment or what may have been lost by a party's own inaction, negligence or latches"4. Though the Code is not a debt recovery law, the trigger being 'default in payment of debt' renders the exclusion of the law of limitation counter-intuitive. Second, it reopens the right of claimants (pursuant to issuance of a public notice) to file time-barred claims with the IRP/RP, which may potentially be a part of the resolution plan. Such a resolution plan restructuring time-barred debts and claims may not be in compliance with the existing laws for the time being in force as per Section 30 (4) of the Code. 28.3 Given that the intent was not to package the Code as a fresh opportunity for creditors a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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