TMI Blog2021 (8) TMI 102X X X X Extracts X X X X X X X X Extracts X X X X ..... r RP assuring allottees interest in terms of clause of resolution plan, the present application stands satisfied and is disposed of. - IA No. 525/2019 in CP (IB) No. 1059/ND/2018 - - - Dated:- 23-7-2021 - Dr. Deepti Mukesh, Member (J) And Sumita Purkayastha, Member (T) For the Appellant : Gaurav Jain, Advocate For the Respondents : Abhishek Pratap Singh, Advocate ORDER Dr. Deepti Mukesh, Member (J) 1. The instant application has been filed by Mr. Gulshan Sethi ( The Applicant ) under section 60(5) of the Insolvency and Bankruptcy Code, 2016 for seeking directions against the Resolution Professional of M/s. Subhkamana Buildtech Private Limited ( The Respondent ) of inter alia for following prayers: i. Pass an or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd Project-2 on time and it came to the knowledge of the Applicant from some relied sources that the Corporate Debtor had re-sold all those apartments in Project-1 to some other persons which were earlier sold to the Applicant and her husband and thus cheated the Applicant and her husband. Therefore, husband of the Applicant had lodged two FIR(s) dated 05.01.2017 under section 406/420/120B IPC against the Corporate Debtor and its directors. The copy of FIR has duly been annexed. 5. The applicant submits that on 14.11.2017, the Corporate Debtor, through its director and authorized representative Mr. Piyush Tiwari entered into a Settlement Agreement with the husband of the Applicant, and agreed to refund ₹ 15,50,00,000/- to the Appli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to enquire about the status of the Claim but the RP kept delaying it. 8. The applicant submits that under section 18(b) of the Code, the IRP/RP has the duty to collect all claims submitted by a Creditor. As clarified by the Hon'ble Supreme Court in 'Swiss Ribbons Pvt. Ltd. Anr. Vs. Union of India Ors.', the RP while handling the claims of a Creditor does not have the power to adjudicate and has to collect and verify the claims received from creditors. In the present case, the RP has failed to admit the claim of the Applicant despite claim being supported by the relevant proofs/documents. The applicant further submits that due to the non-admission of the claim, the Applicant is being denied the opportunity to become part ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the Corporate Debtor and the same transactions are in the nature of an operational debt. That it is clear from these transactions that the Applicant had never been a financial creditor of the Corporate Debtor. 10. The applicant has filed a rejoinder controverting the averments made in the reply and has asserted as follows: i. The RP has a bounden duty towards the stakeholders of Corporate Debtor to timely verify their claims so that the Amount is equitably and fairly distributed. Inspite of telephonic and written reminders sent by the Applicants, the RP slept over the claims and left it undecided. Resultantly, during the CIRP, the Applicants could not participate in COC meetings of the Corporate Debtor inspite of being a Finan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate Debtor and the payments which Applicants have claimed as disbursed to the Corporate Debtor is not reflected in the ledger. The Applicants submits that sufficient proof of disbursement of money had been furnished and cannot be held responsible for consequences if the Corporate Debtor has not maintained the ledger properly. v. That the Applicants had received commission from the Corporate Debtor against the units sold, is denied by the applicant. It is submitted that the ledger entry of ₹ 90,50,000/- paid by Corporate Debtor to the Applicants, was remitted towards part payment of liquidated damages for delay in delivery of possession of Flats booked by the Applicant. 11. Heard submissions and perused the documents. We find ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ffect from the end of 60 days from the Effective Date and the Unit shall stand cancelled and vest with the corporate debtor/Resolution applicant except for the claims lodged within the aforesaid period of 60 days. The corporate debtor/Resolution applicant shall make all the possible efforts to accommodate the claims against cancelled units in case there is no inventory available. However even if after all reasonable efforts such claims could not be adjusted, all such claims shall be treated as Unsecured Financial Creditors and shall be paid accordingly. 13. In view of the above order of this bench as mentioned above and the clause 8.6(3) of resolution plan covering the issue raised by present applicant and also statements made by Ld. R ..... X X X X Extracts X X X X X X X X Extracts X X X X
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