TMI Blog2022 (1) TMI 617X X X X Extracts X X X X X X X X Extracts X X X X ..... prise can be registered as an MSME unit and whether the Company is eligible to be registered as MSME Unit at all. Admittedly it is not in dispute that the CIRP in relation to the Corporate Debtor was ordered by this Tribunal vide order dated 13.11.2020 and the Applicant through its employees have obtained the MSME Certificate on 02.12.2020 i.e. much after initiation of the CIRP by this Adjudicating Authority. Once the CIRP has been ordered, the Board of Corporate Debtor stands suspended and the entire management of the Corporate Debtor vest with the RP and hence the act of the Employee acting under the instructions of the suspended Board is viewed seriously by this Tribunal and such practice is required to be deprecated. It is require ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the Corporate Debtor comes within the classification of Micro Small and Medium Enterprise as per the provisions of the Micro, Small and Medium Enterprises (MSME) in the MSME Act, 2006; iii) To direct that Resolution Professional to consider the Expression of Interest and the Resolution Plan which will be submitted by the Applicants and to place the Resolution Plan before the Committee of Creditors for consideration and voting; and iv) To direct the Resolution Professional to allow the Applicants herein a period of 15 days from the date of disposal of the instant Application for submission of Resolution Plan along with payment of Ernest Money Deposit and subsequently consider the Resolution Plan of the Applicants. v) P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Corporate Debtor under the UDYAM Scheme. Due to certain technical difficulties, UDYAM registration Certificate was issued only on 02.12.2020 and initial attempt to register on the said portal were made as early as on June 2020. Placed at page No. 45 of the Application is UDYAM Registration Certificate bearing Registration No. UDYAM-TN-02-0024395 which was dated 02.12.2020. 5. The RP has published Form - G on 28.01.2021. In response to the same, the Applicant Nos. 1 and 2 along with M/s. Pavithran Aseptic Fruit Products (the Co-Applicant) filed their Expression of Interest (Eol) on 10.02.2021, the RP did not include the Applicants in the list of Prospective Resolution Applicants which was communicated vide e-mail dated 19.02.2021. In t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Applicants is ineligible as the Applicants are disqualified under the provisions of Section 29A(h) of the Insolvency Bankruptcy Code, 2016 as the Personal Guarantee given to the Corporate Debtor has been invoked by a member of the CoC, one RBL Bank Limited and had informed that it has invoked the Guarantee and has filed a recovery suit against the Applicant No. 1 before DRT-II Chennai with O.A. No. 125/2021. 9. It is the contention of the Applicants that Section 29A(h) does not apply to MSME enterprises under Section 240A of the Insolvency Bankruptcy Code, 2016. 10. Per contra, the IRP has filed a Reply on 27.09.2021 and it is stated that Eol submitted on 10.02.2021 by the Applicants along with Co-Applicant was rejected by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te Insolvency Resolution Process is started and I am entrusted with the powers to manage the affairs of the Corporate Debtor - Capricorn Food Products India Limited. It has come to my notice that the Corporate Debtor Capricorn Food Products India Limited has applied for MSME certificate through Udhyam Registration Portal on 2nd December 2020 and has obtained the MSME Certificate which is attached for your reference. Please note that I am the Resolution Professional appointed by the Hon'ble NCLT, Chennai and I am the only authorized person to apply for MSME Certificate for Capricorn Food Products India Limited. The MSME certificate is issued by you based on the Investments/Turnover declared by the authorized person of the Compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctors or by the RP. Nowhere in the response, the RP has questioned the basic criteria based on which an enterprise can be registered as an MSME unit and whether the Company is eligible to be registered as MSME Unit at all. 14. Admittedly it is not in dispute that the CIRP in relation to the Corporate Debtor was ordered by this Tribunal vide order dated 13.11.2020 and the Applicant through its employees have obtained the MSME Certificate on 02.12.2020 i.e. much after initiation of the CIRP by this Adjudicating Authority. Once the CIRP has been ordered, the Board of Corporate Debtor stands suspended and the entire management of the Corporate Debtor vest with the RP and hence the act of the Employee acting under the instructions of the susp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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