TMI Blog2021 (7) TMI 1173X X X X Extracts X X X X X X X X Extracts X X X X ..... y the creditors. Also it must be noted that the RP cannot perpetually accept the claims from the Creditors till the end of the CIRP period as it would defeat the very purpose of the Code. The claim of the Applicants in their capacity as a Trade Creditors/Operational Creditor in respect of the Corporate Debtor cannot be condoned at this belated stage especially when the Resolution Plan is approved by the CoC and is pending before this Tribunal - Application dismissed. - IA/519/CHE/2021 in IBA/1459/2019, IA/247/CHE/2021 in IBA/1459/2019, IA/248/CHE/2021 in IBA/1459/2019, IA/447/CHE/2021 in IBA/1459/2019, IA/446/CHE/2021 in IBA/1459/2019 and Cont. A/03/CHE/2021 in IBA/1459/2019 - - - Dated:- 15-7-2021 - R. Sucharitha, Member (J) And Anil Kumar B., Member (T) For the Appellant : S. Sathiyanarayana and Jayesh Dolia, Advocates For the Respondents : V. Ramakrishnan, Senior Advocate for T. Ravichandran, Advocate ORDER R. Sucharitha, Member (J) 1. Under consideration are Applications which are filed by the Financial Creditors/Operational Creditors of the Corporate Debtor viz. M/s. Appu Hotels Ltd. under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Learned Counsel Mr. S. Sathiyanarayanan appearing on behalf of the Applicants submitted that this Tribunal vide its order dated 05.05.2020 had initiated the Corporate Insolvency Resolution Process in relation to the Corporate Debtor and appointed the Interim Resolution Professional. The Applicants herein have supplied products to Corporate Debtor's hotel at Chennai and Coimbatore and it was submitted that there are still amounts which are pending to be paid by the Corporate Debtor to these Operational Creditors. 9. It was submitted by the Learned Counsel for the Applicants that the IRP had caused paper publication on 09.05.2020 in Economic Times, English and on 10.05.2020 on The Hindu, Tamil, which have limited circulation even during normal times and much limited circulation during the pandemic. Hence, the Applicants herein were not aware of the initiation of the CIRP in relation to the Corporate Debtor and also it was almost impossible for the Applicants, due to lockdown restrictions to know about the CIRP process in relation to the Corporate Debtor. 10. It was submitted that the Applicants could file their claim before the RP only during the month of December 2020 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIRP period and have also received payments for supply of such materials during the CIRP period. Further, it should be noted that the timelines as envisaged under the Code mandates CIRP to be completed within a period of 330 days and also timelines have been fixed for submissions of the claim by the creditors. Also it must be noted that the RP cannot perpetually accept the claims from the Creditors till the end of the CIRP period as it would defeat the very purpose of the Code. Further, the Trade Creditors who have supplied materials during the CIRP period cannot plead ignorance as to the initiation of the CIRP in relation to the Corporate Debtor for non - submission of the claim in time. It is also pertinent to point out here that the Resolution Plan in relation to the Corporate Debtor is pending approval before this Adjudicating Authority and at this stage, if the prayers as sought by the Applicant is allowed it would amount to opening of a pandora box. Further, the Hon'ble Supreme Court while dealing with the admission of a claim, post approval of a Resolution Plan, in the matter of Committee of Creditors of Essar Steel India Limited -Vs- Satish Kumar Gupta Ors. in Civil A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lf of the Applicant submitted that after the initiation of the CIRP, the Applicant has submitted the claim before the IRP as early as on 03.08.2020 in Form - C for a sum of ₹ 61,81,624/-, and also by e-mail on 10.09.2020 and it is the contention of the Learned Counsel for the Applicant that his claim was not adjudicated by the IRP/RP till this date. 17. The Learned Senior Counsel appearing on behalf of the Respondent submitted that no documentary evidence has been produced by the Applicant in order to show that he has submitted the claim before the IRP on 03.08.2020. It was submitted that only the Form - C was dated 03.08.2020; however the Applicant has not submitted the Form - C to the IRP. It was submitted that upon thorough verifications made by the RP in his e-mail and inbox, the e-mail dated 10.09.2020 as alleged to be sent by the Applicant was not received by the IRP/RP. Further, the Learned Senior Counsel contended that as per Regulation 12(2) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, a creditor has to submit the claim on or before the 90th day of the Insolvency Commencement date. In the present case, the CoC was reconsti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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