Employee Provident Fund Organisation vs Fanendra Harakcahnd Munot And Anr
- CitationCompany Appeal (AT) (Insolvency) No. 427 of 2023
Ratio decidendi
The rule this decision rests on
The Tribunal declined to consider the Rainbow Papers authority because the claim had not been admitted by the resolution professional or the Adjudicating Authority, so no question of its application arose. The Tribunal held that, once a resolution plan has been approved by the Committee of Creditors and the Adjudicating Authority, and the claimant's belated claim has not been admitted, the Adjudicating Authority did not err in rejecting the claimant's application on the basis of the Supreme Court's decision in Ghanashyam Mishra & Sons v. Edelweiss Asset Reconstruction, and the appeal challenging that rejection fails.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Employees Provident Fund Organisation ...Appellant
Versus
Fanendra Harakchand Munot & Anr. ...Respondents
Present: For Appellant: Advocate Anju Jain and Hitesh Sachar. For Respondent:
ORDER
19.04.2023: Heard Learned Counsel for the Appellant.
2. This Appeal has been filed against the Order dated 07.02.2023 by which
order the Adjudicating Authority has dismissed the Application I.A. No. 439 of
2023 filed by the Appellant.
3. The CIRP in the present case was commenced on 14.10.2019. Public
Announcement was made on 12.12.2019. Appellant for the first time filed its
provisional claim on 07.01.2021 and its final claim on 26.02.2021.
4. From the perusal of the Order passed by the Adjudicating Authority it
is clear that the Resolution Plan were initially asked for to be submitted by
08th May, 2020 thereafter Committee of Creditors considered the Resolution
Plan and approved the saem, the Application was filed for approval of the
Resolution Plan by the RP which was approved on 23.12.2022. The RP did
communicate to the Appellant that his claim filed with delay cannot be
considered.
-2-
5. From the facts which has been brought on record it does appear that
there was inordinate delay in filing the claim by the Appellant. The Application
which was filed by the Appellant being I.A. No. 439 of 2023 came to be rejected
by the Adjudicating Authority observing that Resolution Plan having been
approved, no claim can survive.
6. Learned Counsel for the Appellant has relied on Judgement of Hon'ble
Supreme Court in Civil Appeal No. 1661 of 2020, State Tax Officer Vs. Rainbow
Papers Ltd., decided on 06th September, 2022.
7. We do not find any necessity to consider the judgement since the claim
of the Appellant was not admitted by the RP or by the Adjudicating Authority.
6. We do not find any error in the order passed by the Adjudicating
Authority on 07.02.2023 rejecting the Application of the Appellant relying on
the Judgement of Hon'ble Supreme Court in "Ghanashyam Mishra & Sons Vs.
Edelweiss Asset Reconstruction" We do not find any error in the order, the
Appeal is dismissed.
[Justice Ashok Bhushan] Chairperson
[Mr. Barun Mitra] Member (Technical)
Basant/nn
Company Appeal (AT) (Insolvency) No. 427/2023
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