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TMI Blog2023 (9) TMI 1464X X X X Extracts X X X X X X X X Extracts X X X X ..... the delay has been given in Para 3, 4 and 5 of the application. Cause shown sufficient delay is condoned. 2. Heard learned counsel for the parties. This Appeal has been filed against order dated 08.06.2023 by which IA-5336/2022 filed by the Appellant has been rejected by the Adjudicating Authority. In the present case, CIRP against the Corporate Debtor commenced on 17.12.2019. Public announcement was made on 20.12.2019, according to which last date for submission of claim was 31.12.2019. The Committee of Creditors approved the Resolution Plan on 16.01.2021. The Appellant filed its claim on 11.06.2022, after 511 days after approval of the plan claiming to be Operational Creditor in Form B. The claim having been filed after approval of the R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n'ble NCLAT in the Company Appeal (AT) (Insolvency) No. 420 of 2021 titled "Harish Polymer Product vs. Mr. George Samuel & Anr." which has been upheld by the Hon'ble Supreme Court in the Civil Appeal No. 6929/2021. Para 10 & 11 of the judgments are reproduced thus: "10. We find that the reasons recorded by the Adjudicating Authority have substance and if at belated stage when the Resolution Applicants are already before the Committee of Creditors with their Resolution Plan(s) if new claims keep popping up and are entertained. the CIRP would be jeopardized and Resolution Process may become more difficult. Keeping in view the object of the 'I&B Code' which is Resolution of the Corporate Debtor in time bound manner to maximiz ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Corporate Debtor. 19. If we analyse the aforesaid plea, it is quite obvious that respondent no. 1 did what could be done to procure the Corporate Debtor's records by even moving an application under Section 19 of the IBC. That it was not fruitful is a consequence of the Corporate Debtor not making available the material. It is thus not even known whether there was a reflection in the records on this aspect or not. 20. The second question is whether the delay in the filing of claim by the appellant ought to have been condoned by respondent no. 1. The IBC is a time bound process. There are, circumstances in which the time can be increased. The question is of course, certain whether the present case would fall within those param ..... X X X X Extracts X X X X X X X X Extracts X X X X
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