Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

2021 (11) TMI 788

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ed to the appellant by the liquidator. It is noticed that this application was filed on 28/08/2019, whereas the order of the Liquidator was communicated to him on 09/08/2019. Admittedly, the first application was also filed beyond 14 days, as required under Section 42 of the IBC, 2016 - we are unable to accept the contention of the applicant that due to lockdown, the applicant could not file the appeal within time. The first application filed under Section 60 (5) of the IBC, 2016 was filed after the 14 days of the prescribed period of the limitation and this application has also been filed much after the withdrawal of that application - the appeal is barred by limitation and on this ground alone, it is liable to be dismissed. Appea .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... .08.2019 received an email dated from the Liquidator that the relevant documents to substantiate claim have not been submitted and in the absence of the same, the claim cannot be accepted at this stage. vi. Further, in August, 2019, the Applicant had filed an Application under Section 60(5) IBC, bearing No. 1153/2019, seeking directions upon Liquidator to admit the claim of the Applicant. But due to technical error, as the application was filed under section 60(5) and not under Section 42 of IBC, this Tribunal vide order dated 04.03.2020 permitted the Applicant to withdraw the said application with a liberty to filed afresh in accordance with law. vii. But due to the National Lockdown and the Covid outbreak, the Applicant could .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Corporate Debtor. 3. We have heard the learned Counsel appearing for the Applicant and perused the averments made in the memo of appeal as well as the documents enclosed along with the memo of appeal. 4. Learned Counsel appearing for the appellant submitted that the liquidator has rejected his claim and for which earlier the appellant had filed the application under Section 60 (5) of the IBC, 2016 being IA Number - 1153/2019, in which this Tribunal took a view with respect to the conduct of the liquidator, and observed that the Liquidator failed to provide any cogent reason for rejection of the claim but subsequently, on technical ground, the application was permitted to be withdrawn because the same was filed under Section 60(5) an .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... remedy is to file an appeal under Section 42 of the IBC, 2016 and the application is not maintainable under Section 60(5) of the IBC, 2016. We further notice that the appellant has taken the ground of Covid for not filing the appeal within time. 8. At this juncture, we have gone through the application filed by the applicant as IA No. 1153/2019 and we notice that this application was filed on 28/08/2019, whereas the order of the Liquidator was communicated to him on 09/08/2019. Admittedly, the first application was also filed beyond 14 days, as required under Section 42 of the IBC, 2016. We further notice that the applicant has withdrawn the application filed under Section 60 (5) on 04th March, 2020. Lockdown was imposed on 25th March, 2 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates