9911796707
TMI Blog2025 (1) TMI 949X X X X Extracts X X X X X X X X Extracts X X X X ..... y by the impugned order has rejected the Application. Aggrieved by which order, this Appeal has been filed. 2. Brief facts of the case necessary to be noticed for deciding the Appeal are: (i) The Appellant booked an Apartment and a Plot with M/s. Puma Realtors Pvt. Ltd. in the year 2010 in its Project IREO Rise (Gardenia), Mohali, Punjab and the IREO Hamlet Project respectively. The Apartment Buyers Agreement was executed on 27.05.2011. The Appellant paid a sum of Rs.57,56,684/- against the total sale consideration of Rs.60,06,368/-. The possession of the apartment was to be handed over by 2013. (ii) In the year 2018, the Appellant approached the State Consumer Disputes Redressal Commission by a Complaint Case No.27 of 2018 against the Corporate Debtor ("CD"). (iii) On 17.10.2018, an order was passed by Adjudicating Authority admitting the CD - Puma Realtors Pvt. Ltd. in Corporate Insolvency Resolution Process ("CIRP") in CP(IB)- 934(PB)/2018 filed by one of the allottees. On 22.10.2018, Interim Resolution Professional ("IRP") issued a public announcement asking the creditors to submit their claims. (iv) On 29.10.2018, the Appellants submitted their claim Form regarding th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per approved Resolution Plan Clause 18.4 (xi) and 18.4(xix), the Appellant is entitled to refund of the 50% of the principal amount. (xi) The Adjudicating Authority heard the parties and by impugned order disposed of IA No.5579 of 2021 observing that the Plan having been approved and attained finality the parties are governed by the terms of the approved Plan, such claims has to be dealt with in accordance with the terms and conditions of the Plan. (xii) Aggrieved by the order impugned, this Appeal has been filed. 3. We have heard learned Counsel for the Appellant, learned Counsel for the RP as well as learned Counsel for the SRA. 4. Learned Counsel for the Appellant submits that the case of the Appellant is not covered by Clauses 18.4 (xi) and (xix). The Appellants' claim was admitted and SRA was informed, which is reflected by List of Creditors issued on 30.04.2020. It is submitted that Clause 18.4 (xi) is attracted when allottee has not filed his claim with the RP or if filed, is not verified by the RP, or if verified, has not been informed to the Resolution Applicant. In the present case, the claim has been filed by the Appellants, which has been verified and admitted an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a Dagar Solanki vs. One City Infrastructure Pvt. Ltd. & Ors. decided on 04.09.2024, where the Appellants were also, who had filed their claims after the cut-off date, was held to be covered by the Resolution Plan approved. It is submitted that the judgment of this Tribunal in Savita Dagar Solanki arises of the same CIRP and in which an Application filed by the Appellant, seeking similar reliefs has been rejected by the Adjudicating Authority, which order was upheld and this Tribunal directed the claims to be considered in accordance with Clause 18.4(v). 7. We have considered the submissions of learned Counsel for the parties and have perused the records. 8. The present is a case where CIRP commenced on 17.10.2018 and IRP made public announcement on 22.10.2018. In pursuance of the public announcement, although the Appellants have filed their claim on 29.10.2018 with regard to their Plot in Hamlet Project, but they did not file any claim with regard to Apartment, which is now being sought to be claimed. The Appellants' case before the Adjudicating Authority as well as before this Tribunal is that claim was submitted on 11.01.2019, whereas the case of Respondent is that claim for th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... form dated 29.10.2018 regarding their plot in IREO Hamlet Project before the IRP." 10. The further case setup by the Appellants was that father of Appellant No.2 has submitted CA Form to the concerned staff of the IRP at their official address, i.e. Project Office, IREO Rise, Sector-99, Mohali on 11.01.2019, which as pleaded in paragraph 2 (vii), is as follows: "2(vii) That as the applicants were posted at Bangalore therefore, they authorised Col. K.K. Verma, the father of application no.2 i.e. Anuradha Nehra for taking all the required/ necessary actions regarding their claim towards the said properties. Taking action accordingly, immediately, after the disposal of abovementioned complaint on 13.12.2018, the father of the applicant no.2 personally handed over the claim form i.e. CA form to the concerned staff of the IRP at their official address i.e. project office, IREO Rise, Sector-99, Mohali in the 11.01.2019. A true copy of the claim form alongwith the requisite declaration is being attached alongwith the present application as Annexure A-3." 11. The RP has filed a reply to the Application, where the RP has categorically stated that no claim was received by the RP and fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ic announcement in Form-A is as follows:- "FORM A PUBLIC ANNOUNCEMENT (Under Regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016) FOR THE ATTENTION OF THE CREDITORS OF PUMA REALTORS PRIVATE LIMITED RELEVANT PARTICULARS 1. Name of the corporate debtor Puma Realtors Private Limited 2. Date of incorporation of corporate debtor 03/10/2005 3. Authority under which corporate debtor is incorporated/ registered ROC-DELHI 4. Corporate Identity No./ Limited Liability Identification No. of corporate debtor U70101DL2005PTC141373 5. Address of the registered office and principal office (if any) of corporate debtor Registered Office C-4, 1st floor Malviya Nagar New Delhi South Delhi-110017 Address other than registered office where books of account and papers are maintained: S.C.O. 6-8, Sector-9/D, 1st/2nd floor, Madhya Marg Chandigarh-160009 6. Insolvency commencement date in respect of corporate debtor October 17, 2018 7. Estimated date of closure of insolvency resolution process April 15, 2019 8. Name and registration number of the insolvency professional acting ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the father of the Appellant No.2 has handed over the Form-CA on 11.01.2019 to the staff of IRP at his Project Office at Mohali, which pleadings have been made in paragraph-2 (vii) of the Application filed by the Appellant as extracted above. From the pleadings of the Appellants itself, it is clear that filing of the claim was not in accordance with public announcement. The claim was required to be filed at the address and email given at Item Sl. No.10 of the public announcement at the New Delhi address. It is further relevant to notice that Appellants itself has submitted that it has filed its claim on 29.10.2018 with regard to claim of Plot, which was well within time by email. Thus, the Appellants were well aware that claim has to be filed by email at the email address or at New Delhi address, mentioned above. Thus, the pleadings made by the Appellant itself prove that there was no claim filed as per public announcement. Hence, the plea of the RP has to be accepted that claim for the first time was filed on 07.02.2020. The Appellants' case also is that on 07.02.2020 they have submitted their claim, after receiving the email from the RP. We, thus, hold that Appellant never file ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... admitted claim of Rs.5,756,684/-. The said list contains the admitted claim of the Appellant on the basis of claim filed on 07.02.2020. Clause 18.4 (xi) provided that any person claiming to be Allottee of the CD, who has not filed their claim with the RP or if filed, has not been verified by the RP, or if verified, has not been informed to the Resolution Applicant shall not stand extinguished for a period of six months from the date of approval of the Plan by NCLT and for this period they shall be dealt at the sole discretion of the Resolution Applicant according to the merits of the case. The Resolution Plan, which is brought on the record as Annexure A-4, is dated 24.08.2019, which was finally approved on 04.09.2019. Thus, the Clause 18.4 (xi) has to be read with reference to the date when the Plan was approved. On the date, when Plan was approved, the Appellant has not filed the claim, admittedly. Their case of submitting claim on 11.01.2019 has not been accepted as noted above. The purpose and object of Clause 18.4 (xi) is to even protect those allottees, who have not filed the claim, so as to consider their claims on merits and the claims, which were not filed, were not extin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ims which according to the Appellant has not been verified. 5. From the order of the Adjudicating Authority, it is clear that the claims were filed by the Appellants after the cut-off date. We, thus, have no doubt that SRA has to take care of the claims as per Clause 18.4 (v) of the Resolution Plan and whatever amount is entitled to the Appellant to be paid as per Clause 18.4(v) shall be considered and paid by the SRA because the Resolution Plan binds all concerned including the SRA, Appellants and all stakeholders. 6. In view of the aforesaid, we do not find any error in the order of the Adjudicating Authority rejecting the application. However, as noticed above, the Adjudicating Authority itself has observed that the claims have to be dealt with in accordance with Clause 18.4 (v) of the Resolution Plan as noted above." 18. In the above judgment of this Tribunal, which dealt with the same CIRP, where the Application was filed in the year in 2022, i.e., after approval of the Plan has rightly been held to be covered by Clause 18.4 of the Resolution Plan. The above judgment, hence, fully supports the submission of the Respondent. 19. The Applicant has filed IA No.5579 of 202 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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