Dr Aftab Alam vs H.S. Oberoi Buildtech Private Limited & ...
- CitationComp. App. (AT) (Ins.) No. 108 of 2022
Ratio decidendi
The rule this decision rests on
After a resolution plan has been approved by the Committee of Creditors and accepted by the Adjudicating Authority under the Insolvency and Bankruptcy Code, a claim submitted after that approval cannot be considered in the corporate insolvency resolution process, and an application seeking its consideration is liable to be rejected. A creditor who is unaware of the approved resolution plan is not entitled to have its claim reopened on that ground; the appropriate course is to approach the Successful Resolution Applicant to ascertain whether the plan makes any provision for it.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Dr. Aftab Alam ....Appellant Vs. H.S. Oberoi Buildtech Pvt. Ltd. & Anr. ...Respondents For Appellant: Mr. Abhay Kumar, Mr. Kumar Milind, Mr. Rajat Khattry, Ms. Shagun Ruhil, Advocates. For Respondents:
ORDER
(Through Virtual Mode)
03.02.2022: Heard Learned Counsel for the Appellant.
2. This Appeal has been filed against the order dated 09.12.2021 passed
by the Adjudicating Authority (National Company Law Tribunal), New Delhi,
Court-III, by which I.A 5598/2021 filed by the Appellant has been rejected.
Appellant's case is that he has already paid an amount to the Corporate
Debtor for booking a shop but however he could not know about the CIRP
and the plan has already been approved on 14.11.2019 by Committee of
Creditors (CoC) which was also accepted by the Adjudicating Authority on
15.03.2021. The Adjudicating Authority has rejected the Application on the
ground that the claim is barred by time as has been filed with great delay.
Appellant has submitted its claim only in November, 2021.
3. We do not find any error in the order of the Adjudicating Authority for
rejecting I.A 5598/2021. After approval of the plan both by CoC and the 2
Adjudicating Authority, the claim of the Appellant could not have been
considered.
4. Learned Counsel for the Appellant lastly submitted that he is not
aware of the Resolution Plan and as to whether there is any provision for him
or not. It is open for the Appellant to approach the Successful Resolution
Applicant for knowing the details of the plan, especially as to whether there
is any provision for him or not.
5. With these observations, we dismiss the Appeal.
[Justice Ashok Bhushan] Chairperson
[Dr. Ashok Kumar Mishra] Member (Technical)
[Dr. Alok Srivastava] Member (Technical) Anjali/nn
Comp. App. (AT) (Ins.) No. 108 of 2022
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