Ashok Kumar Dhamija vs Shiv Nandan Sharma
- CitationCompany Appeal (AT) (Ins.) No. 648 of 2023
Ratio decidendi
The rule this decision rests on
Where the Resolution Professional, in the reply filed before the Tribunal, has stated that a claim has been finally admitted in a stated amount, and the appellate Tribunal records that statement, the appeal against the rejection or partial admission of that claim may be disposed of on the basis of the admission made, without interfering with the impugned order, since the substantial claim now stands admitted in the CIRP. Where a Resolution Professional has admitted a creditor's claim, the Resolution Professional is to communicate the final admission of the claim amount to the claimant.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Ashok Kumar Dhamija ...Appellant
Versus
Shiv Nandan Sharma Resolution Professional of Saha Infratech Pvt. Ltd. ...Respondent
Present: For Appellant: Ms. Amrita Grover and Mr. Shubham Paliwal, Advocates.
For Respondent: Mr. Deep Tarun Bisht, Advocate.
ORDER
(Hybrid Mode)
30.04.2024: We have heard learned counsel for the Appellant as well as
learned counsel for the Respondent. This Appeal has been filed against order
passed by the Adjudicating Authority dated 21.03.2023 in I.A. No.4182 of
2022. Appellant has filed a claim of Principal Amount of Rs.50 Lakhs and
interest of Rs.48 Lakhs along with a claim of Rs.13,48,180/- towards salary
and leave encashment. In the order, the Adjudicating Authority noticed that
claim of Rs.47,91,567/- has been admitted as Financial Creditor and
Rs.15,32,251/- as interest therein.
Cont'd.../ -2-
2. Learned counsel for the Appellant submits that Principal Amount of
Rs.50 Lakhs was required to be admitted and interest amount of Rs.48 Lakhs
was claimed.
3. Learned counsel for the Resolution Professional submits that although
initially Principal Amount of Rs.47,91,567/- was admitted, which was
provisional admission and subsequently, an amount of Rs.50 Lakhs was
admitted, which was mentioned in in the Reply filed by the Resolution
Professional in Para (V) (1). Para (V) (1) is as follows:
"(V) CLAIM OF THE APPELLANT IS VERIFIED ON THE BAISIS OF DOCUMENTS SUBMITTED BY THE APPELLANT:
1. It is submitted that the claim of the Appellant filed under Form CA for an amount of Rs. 98,00,000/-
(50,00,000 as principal amount 48,00,000 as Interest) was received by the Respondent.
Consequently, the claim of amount Rs.
65,98,904/- was duly admitted by the Resolution Professional/Respondent wherein the entire principal amount of Rs 50,00,000/- has been admitted along with the 8% interest admitted as per Regulation 16A (7) of the IBBI Regulations, 2016 for the purpose of calculation of voting shares. Whereas, the Appellant being an employee submitted its claim form under Form D in the capacity of Assistant General Manager, Accounts and Finance of Corporate Debtor
Company Appeal (AT) (Insolvency) No.648 of 2023 -3-
claiming Rs. 13,48,180/- towards outstanding due salary, leave encashment and interest thereupon (bifurcation of the claim amount is at page 75 of the appeal). The Respondent has admitted the amount of Rs. 10,72,556/- towards salary as per the documents submitted by the Appellant and limited information available with the Respondent. It is pertinent to mention here that there is all like hood that the Appellant may be a dummy employee shown on the company rolls for payment of interest on Rs 50,00,000/- lent to the Corporate Debtor as the first agreement dated produced by the appellant is dated 15th February, 2020 whereas the Rs 50,00,000/- was paid to the Corporate Debtor on 25th January, 2016."
4. The Resolution Professional also admitted claim of 8% of interest as per
Regulation 16A (7) of the IBBI Regulations, 2016 for the purposes of
calculation of voting shares. An amount of Rs.10,72,556 has been admitted
towards salary as per the documents submitted by the Appellant.
5. We are of the view that substantial claim of the Appellant has been
admitted in the CIRP, hence, we see no reason to interfere in the impugned
order, especially when the Resolution Professional in it reply in Para (V) (1),
as noted above, has declared about the final admission of the claim of the
total Rs.50 Lakhs. Recording the said statement of the Resolution
Company Appeal (AT) (Insolvency) No.648 of 2023 -4-
Professional of admission of Rs.50 Lakhs of Principal Amount and interest as
well as amount towards salary, we dispose of this appeal.
6. We are of the view that the Resolution Professional should also send a
communication to the Appellant regarding final admission of the claim
amount.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical)
[Arun Baroka] Member (Technical) Archana/nn
Company Appeal (AT) (Insolvency) No.648 of 2023
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