TMI Blog2022 (4) TMI 524X X X X Extracts X X X X X X X X Extracts X X X X ..... er claim before the Ld. Senior Civil Judge, Bhavnagar however the same was rejected while passing decree. Being aggrieved by the decree, the Corporate Debtor approached the Hon'ble High Court - During the pendency of the appeal and execution proceeding the Corporate Debtor filed an application under Section 10 of the Code for initiation of CIRP of itself in 2019. It is noted that in the Section 10 Application the order was passed on 08.03.2021 initiating CIRP against Corporate Debtor. When the IRP had issued a demand notice dated 24.03.2021 on the Applicant for ₹ 17,15,703/-, the Applicant apprised the RP about the decree and pendency of appeal before Hon'ble High court and execution proceeding. The Resolution Professio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16 passed in Special Civil Suit No. 214 of 1999, in the interest of justice; iii. That this Hon'ble Adjudicating Authority may be pleased to stay the further process of CIRP of the Corporate Applicant, pending the hearing and final disposal of present interlocutory application; iv. That this Hon'ble Adjudicating Authority may be pleased to grant any ancillary or consequential directions or such other and further reliefs as may be deemed fit and proper by this Hon'ble Tribunal, in the interest of justice. 2. The brief backdrop of the case is that the Corporate Applicant had filed an insolvency application under Section 10 of the Code for initiation of Corporate Insolvency Resolution Process ('CIRP') against ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt condoned the delay and remanded the matter to Hon'ble High Court which is pending till date. The Hon'ble High Court has not granted any stay/interim relief in favour of the Corporate Debtor. The Applicant had also filed an execution Application and the same is also pending. 4. The Applicant further submits that it came to know about initiation of CIRP against the Corporate Debtor when the IRP sent a letter dated 24.03.2021 claiming an amount of ₹ 17,15,503/- from the Applicant. The Applicant had replied vide letter dated 12.05.2021 and apprised the IRP about the decree dated 19.12.2015 and had also filed claim in Form-B. It is further stated that the Applicant has filed its claim with Resolution Professional vide email d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... written submissions and relied on the below stated para of the judgment passed by Hon'ble Supreme Court in Essar Steel India Ltd., CoC vs. Satish Gupta Ors. (CA No. 8766-67 of 2019) dated 15.11.2019: 102. So far as Dakshin Gujarat Vij Co. (Respondent No. 11 in Civil Appeal Diary No. 24417 of 2019), State Tax Officer (Respondent No. 12 in Civil Appeal Diary No. 24417 of 2019), Gujarat Energy Transmission Corporation Ltd. (Respondent No. 17 in Civil Appeal Diary No. 24417 of 2019) and Indian Oil Corporation Ltd. 162 (Respondent No. 18 in Civil Appeal Diary No. 24417 of 2019) are concerned, the resolution professional admitted the claim of the abovementioned respondents notionally at INR 1 on the ground that there were disputes pen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edings. During the pendency of the appeal and execution proceeding the Corporate Debtor filed an application under Section 10 of the Code for initiation of CIRP of itself in 2019. It is noted that in the Section 10 Application the order was passed on 08.03.2021 initiating CIRP against Corporate Debtor. When the IRP had issued a demand notice dated 24.03.2021 on the Applicant for ₹ 17,15,703/-, the Applicant apprised the RP about the decree and pendency of appeal before Hon'ble High court and execution proceeding. It is averted by Resolution Professional that the Applicant had filed claim in Form-B beyond the period prescribed under the Code. However, in view of the Covid-19 pandemic and Hon'ble Supreme Court's order dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, in view of the decree of competent court who had already adjudicated the claim by application of judicial mind in favour of Applicant. Moreover, the execution is pending. Though there is an appeal pending before Hon'ble High Court of Gujarat but no stay is granted to the execution of the decree or of any other nature. The Resolution Professional has not sought any clarification from Hon'ble Gujarat High Court while considering the claim of the Applicant but has as per his discretion only, admitted claim for nominal amount of ₹ 1 against the total decretal amount of ₹ 21,79,88,328.04. 9. We are of the considered view that the Resolution Professional has errored in registering the claim of the Applicant at a notional ..... X X X X Extracts X X X X X X X X Extracts X X X X
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