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TMI Blog2020 (11) TMI 1062X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunals Rules, 2016 seeking appropriate directions from this Hon'ble Tribunal for realization of its claims against the CD which has already taken over by the Respondent No.2 in terms of the order dated 07.12.2018 passed by this Hon'ble Tribunal in the connected company petition. 2. The applicant begs to state that the applicant company is engaged in the business of importers and dealers in solvents, dyes and chemicals for paints, plastic, resins, and such other allied items. In the ordinary course of business, the CD, M/s Kitply Industries Ltd. placed orders of Phenol, Melamine (imported) from time to time with the applicant by its various Purchase Orders and the same were complied with by the applicant, inter alia, by supplying the ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bove Company Petition. It was found that the Hon'ble Tribunal vide order dated 07.11.2018 approved the Resolution Plan as submitted by the Respondent No.2. 5. That the applicant begs to state that the aforesaid I.A.(Civil) No.4156 of 2019 along with the Company Petition No.11 of 2011 were listed before the Hon'ble Gauhati High Court on 07.01.2020 whereby the Hon'ble High Court vide two separate orders dated 07.01.2020 disposed of both the Interlocutory applicants as well as the company petition as withdrawn with liberty to the applicant to file the appropriate application before this Hon'ble Tribunal. Accordingly, the instant application has been filed in view of the liberty granted by the Hon'ble High Court. 6. It is stated by the Applic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d quash and/modify the order dated 07.12.2018 passed by this Hon'ble Tribunal approving the Resolution Plan submitted by the Respondent No.2 and further direct the R.P. to consider the claim of the applicant and start the process of CIRP denovo from the stage of preparation of claims b) In the alternative of prayer clause (a) hereinabove, this Hon'ble Tribunal may be pleased to direct the Respondent No.2 to pay the legitimate claims/dues of the applicant to the tune of Rs.1,21,86,626/- (One crore twenty-one lakhs eighty-six thousand six hundred and twenty-six rupees only) along with 18% interest as claimed by the applicant vide the statutory notices dated 7.4.2011 and 18.4.2011." It is observed that: 9. The application under Section 7 w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has filed this application on 02.03.2020 i.e. after around 20 months from the last date of the submission of claim and 14 months after approval of the Resolution Plan by this Adjudicating Authority; 9.6 The Resolution Plan was approved by 92.74% and the Resolution Applicant has paid 0.63% of the total operational Creditors' claim of Rs.725.17 lakhs. Had this applicant/OC filed its claim in time and claim admitted, the OC would have got Rs.76,775/- i.e. 0.63% of its claim amount of Rs.1,21,86,626.00 10. Hon'ble Supreme Court in the matter of Committee of Creditors of Essar Steel India Ltd. Vs. Satish Kumar Gupta & Others (Civil Appeal No.8766-67/2019 has held that a Successful Resolution Applicant cannot suddenly be faced with "undecided" ..... X X X X Extracts X X X X X X X X Extracts X X X X
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