Electro Magnetic Industries vs Energo Engineering Projects Ltd

Electro Magnetic Industries ...Appellant

Vs.

M/s. Energo Engineering Projects Ltd. ...Respondent

Present: For Appellant: - Mr. Ankit Kumar, Advocate.

For Respondent: - Mr. Abhishek Anand and Ms. Honey Satpal, Advocates.

O R D E R

25.11.2019─ Mr. Ankit Kumar, learned counsel appearing on behalf

of the Appellant submits that the Appellant has handed over the

machinery to 'M/s. Sanjay Gandhi Thermal Power Project, 'Madhya

Pradesh Power Generating Company Limited' in terms of the order dated

24th May, 2019 passed by the Adjudicating Authority (National Company

Law Tribunal), Principal Bench, New Delhi. It is also accepted by the

learned counsel appearing on behalf of the Liquidator.

2. As it is admitted that the liquidation proceeding has already been

initiated, we allow the Appellant to file its claim before the Liquidator of

'M/s. Energo Engineering Projects Limited' who is required to verify the

claims under Clause (a) of sub-section (1) of Section 35 of the Insolvency

Contd/-.......

-2-

and Bankruptcy Code, 2016 ("I&B Code" for short) and thereafter, on

consolidation of claims under Section 38 of the 'I&B Code' and after

verification of claims under Section 39, it is the Liquidator who is

empowered to admit or reject the claim under Section 40. If the Appellant

is aggrieved thereafter may prefer appeal under Section 42 before the

Adjudicating Authority.

So far as the imposition of cost or penalty or payment of interest is

concerned, we are of the view that it is not a fit case.

The appeal stands disposed of with aforesaid observations and

directions. No costs.

(Justice S.J. Mukhopadhaya) Chairperson

(Justice Bansi Lal Bhat) Member(Judicial)

(Justice Venugopal M) Member(Judicial)

Ar/g

Company Appeal (AT) (Insolvency) No. 660 of 2019