IBC Laws Blog

ONE PAGE # 28 – M/s P dot G Constructions Pvt Ltd

ONE PAGE # 28 – M/s P dot G Constructions Pvt Ltd
Can the claims be accepted after approval of Rplan?
#Courts:  NCLT Chennai & NCLAT Chennai Bench AT# 92/2021 Dt 03.06.2021 

1. Facts of the Case:

a. Appellant is a home buyer and he is aggrieved that NCLT dismissed his IA on the ground that the Rplan has already been approved.

b. Appellant filed IA seeking for a direction to the RP to clear the partial claim, rejected by the RP.

c. Appellant says that he paid total sale consideration to CD and RP must have admitted his claim in full.  RP admitted the claim to the extent of Rs.10.57 Lakhs and the balance was not admitted due to non-availability of ‘no due certificate” in CD files.

2. List of Dates:

06.08.2018 Appellant submitted his claim before RP in form CA.

13.12.2019: Rplan approved by NCLT

18.02.2020: Appellant filed the IA856 at NCLT for direction on his partial claim

12.02.2021: NCLT dismissed IA856 filed by the Appellant for his partial claim

3. Case Laws:

a. COC of Essar Steel India Limited vs. Satish Kumar Gupta (SC):Resolution Applicant cannot be allowed to face hydra head suddenly popping up after the approval of the Resolution Plan in relation to the Corporate Debtor of liabilities.

4. Judgment by NCLAT:

a. NCLT’s order in the teeth of the Hon’ble Supreme Court decision in the matter of COC of Essar Steel India Ltd vs Satish Kumar Gupta free from legal infirmities.

b. Appeal sans Merit and hence dismissed with no costs.

MS Mano Ranjani

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