Saturday 31 October 2020

Sanjeev Dalal (Retd.) vs. International Recreation & Amusement Ltd - Delay in filing claim during CIRP

 NCLT (PB) New Delhi (02.08.2019) in Col. Sanjeev Dalal (Retd.) vs. International Recreation & Amusement Ltd.[[IB)-297(PB)/2018] held that; considering resolution plan is pending consideration before the Adjudicating Authority and in view of the same the claims of the financial creditors can be accepted and adjudicated by the RP.
 

Excerpts of the order;

The present applications have been filed by claimants who are the allottees/joint allottees. The applicants state that their claims were rejected by the Resolution Professional on the ground of delay. It is further stated that the application considering resolution plan is pending consideration before the Adjudicating Authority and in view of the same the claims of the financial creditors can be accepted and adjudicated by the RP. The delay in filing of claims is not intentional and many applicants were unaware of the CIRP and filing of claims. 

Considering the submissions made by the counsels and documents on record. The RP is directed to accept claims and adjudicate the same as per law. 

 

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2 comments:

  1. nar+aari=naari26 August 2021 at 12:38

    Can I get the link of the order of NCLT in this case.

    ReplyDelete
    Replies
    1. Arvind Mangla26 August 2021 at 12:55

      Sure, I can send copy of the order. Please provide your E-mail ID

      Delete

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Disclaimer:

The sole purpose of this post is to create awareness on the "IBC - Case Law" and to provide synopsis of the concerned case law, must not be used as a guide for taking or recommending any action or decision. A reader must refer to the full citation of the order & do one's own research and seek professional advice if he intends to take any action or decision in the matters covered in this post.

Mr. Vijendra Kumar Jain Vs Mr. Nitin Ramchandra Jadhav and Ors.. - Thus, by taking a cue from the judgments rendered by the English Courts in this regard, the following acts have been held to constitute ‘Wrongful Trading’;

NCLT Mumbai-V (2024.05.07) in Mr. Vijendra Kumar Jain Vs Mr. Nitin Ramchandra Jadhav and Ors..[ (2024) ibclaw.in 515 NCLT, I.A. 677 of 2023...