In the matter of Dream Procon Pvt. Ltd.

National Company Law Tribunal11 August 2023

CitationI.A.-2223-2022 in IB-1771(ND)2018

Ratio decidendi

The rule this decision rests on

A claim filed by a creditor after the Committee of Creditors has approved the resolution plan cannot be admitted, on the authority of the appellate decision in Puneet Kaur v. M/s. K.V. Developers Pvt. Ltd. (NCLAT, 2022), which the Tribunal treats as binding on the point; a belated claim filed after such approval is therefore to be rejected and the application for its admission dismissed.

Written by Miss Lucy from the judgment below, not taken from a headnote.

Judgment

As delivered

IN THE NATIONAL COMPANY LAW TRIBUNAL NEW DELHI (COURT III) I.A-2223/2022 In (IB)-1771(ND) 2018 Under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 IN THE MATTER OF: Ms. Priyanshi Arora ……. Financial Creditor Versus M/s. Dream Procon Pvt. Ltd. …….Corporate Debtor AND IN THE MATTER OF: I.E Soomar …….Applicant Versus Mr. Nilesh Sharma Resolution Professional of M/s. Dream Procon Pvt. Ltd …..Respondent

Pronounced on 11.08.2023 CORAM: SHRI BACHU VENKAT BALARAM DAS MEMBER (JUDICIAL) SHRI ATUL CHATURVEDI MEMBER (TECHNICAL) PRESENT: For the Applicant : For the RP : Ms. Varsha Banerjee, Mr. Karan Grover, Advs along with Mr. Nilesh Sharma, Resolution Professional. ORDER PER: SHRI BACHU VENKAT BALARAM DAS, MEMBER (JUDICIAL) 1. The present application has been filed by one Mr. I.E. Soomar, seeking directions to the Resolution Professional to admit the claim of the Applicant. 2. It is an admitted position that the Committee of Creditors in its 11th meeting held on 07.05.2021 has approved the Resolution Plan by I.A-2223/2022 In (IB)-1771(ND) 2018 Dated 11.08.2023

90.66% votes. The Applicant herein filed the claim on 04.12.2021 after the approval of the Resolution Plan by the Committee of Creditors. 3. In the judgment passed by Hon’ble NCLAT in the case of Puneet Kaur versus M/s. K.V. Developers Private Limited Company Appeal (AT) (Insolvency) No. 390 of 2022 dated 01.06.2022, it has been held that claim filed after the approval of the Plan by the Committee of Creditors cannot be admitted. 4. In view of the above position of law as laid down by the Hon’ble NCLAT in the case of Puneet Kaur (supra) the claim of the present Applicant which has been filed belatedly after the approval of the Plan by the Committee of Creditors cannot be entertained or admitted. 5. It may further be noted that the Resolution Professional upon due verification of the Books of Account of the Corporate Debtor duly reflected the unit for which the present belated claim has been filed in the list of flats, but the Applicant did not file any claim. 6. IA is devoid of any merit and rejected.

Sd/- Sd/- (ATUL CHATURVEDI) (BACHU VENKAT BALARAM DAS) MEMBER (TECHNICAL) MEMBER (JUDICIAL)

I.A-2223/2022 In (IB)-1771(ND) 2018 Dated 11.08.2023

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