Thursday, 26 November 2020

Jharkhand Bijli Vitran Nigam Ltd. vs. Manish Jain RP, Swati Udyog Pvt. Ltd - Cost imposed for inordinate delay in filing of claim.

NCLT Kolkata  (17.11.2020) in Jharkhand Bijli Vitran Nigam Ltd. vs. Manish Jain RP, Swati Udyog Pvt. Ltd, [I.A(IB)No.1071/KB/2020 In CP(IB) No.956/KB/2018] while condoning the delay in filing of the claim in CIRP, imposed the cost of Rs.50,000/- for the casual attitude of the claimant in filing condonation application with NCLT.

Excerpts of the order;

# 1. Mr. Akash Sharma, Ld. Counsel for the applicant, JBVNL, is present. Ms. Shreya Choudhury, Ld. Counsel for the RP is present. Mr. Manish Jain, RP is present in person.

 

# 2. IA(IB) No. 1071/KB/2020 is an application filed by Jharkhand Bijli Vitran Nigam Ltd. (JBVNL) seeking condonation of delay of 92 days for filing the claim of approximately Rs.1.54 Crores with the RP. The last date of submission of claim was on 24/02/2020. The claim had been filed on 26/05/2020, after a delay of 92 days. Upon receipt of the claim with a delay of 92 days on 26/05/2020, the RP had replied vide his communication dated 28/05/2020 intimating that the claim could not be accepted because of the delay in submission of the claim. However, in spite of receiving the communication dated 28/05/2020 from the RP, the applicant did not choose to file any application for condonation of delay before this Adjudicating Authority until now. There has been a delay of six months in filing this application for condonation of delay. The RP submits that the CoC is considering the resolution plans submitted by the prospective resolution applicants at this stage.

 

# 3. Considering the casual manner in which the claim was first filed late with the RP and also that there is a delay of more than six months in filing the present application for condonation of delay, this Bench feels that cost should be imposed on the applicant before the IA is considered. Accordingly, this Bench imposed cost of Rs.50,000/- (Rupees Fifty Thousand only) on the applicant to be paid to “PM CARES FUND” within a period of one week from today, failing which the claim shall not be considered. The RP is directed to accept the claim for consideration, only upon satisfactory proof of cost being paid as communicated above. The RP shall proceed to collate the claim on its merits uninfluenced by the fact that the delay is condoned.


# 4. IA(IB) No. 1071/KB/2020 is disposed of in accordance with the above directions.

 

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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.