The case involves an appeal against an order dated 10.06.2022 passed by the Adjudicating Authority/National Company Law Tribunal, Chennai Bench-II, which dismissed an application filed by the appellant, S. Gopi, an operational creditor of M/s Empee Distilleries Limited, the corporate debtor. The appellant sought a direction to the respondents to make payment of Rs. 62,31,242/- from the contingency fund established under the resolution plan. The Adjudicating Authority dismissed the application primarily because the appellant failed to submit the necessary supporting documents to substantiate the claim within the stipulated timeframe of the CIRP.
S. Gopi, proprietor of Goutham Roadways, is an operational creditor of M/s Empee Distilleries Limited, the corporate debtor. Gopi claimed Rs. 62,31,242/- for transportation services provided to Empee Distilleries since 2005. The Corporate Insolvency Resolution Process (CIRP) of Empee Distilleries commenced on 01.11.2018. A resolution plan was approved on 20.01.2020, which included a contingency fund of Rs. 7 Crore for six months from the approval date. The Resolution Professional requested Gopi to submit supporting documents for his claim by 29.07.2019. Gopi failed to provide the necessary documents, and the Resolution Professional rejected the claim on 17.08.2019. Gopi filed an application before the Adjudicating Authority, seeking payment from the contingency fund,
…Sign in to view the parties.
Corporate Insolvency…
90 days prescribed in the IBBI (Resolution…
The case involves an appeal against an order dated 10.06.2022 passed by the Adjudicating Authority/National Company Law Tribunal, Chennai Bench-II, which dismissed an application filed by the appellant, S. Gopi, an operational creditor of M/s Empee Distilleries Limited, the corporate debtor. The appellant sought a direction to the respondents to make payment of Rs. 62,31,242/- from the contingency fund established under the resolution plan. The Adjudicating Authority dismissed the application primarily because the appellant failed to submit the necessary supporting documents to substantiate the claim within the stipulated timeframe of the CIRP.
S. Gopi, proprietor of Goutham Roadways, is an operational creditor of M/s Empee Distilleries Limited, the corporate debtor. Gopi claimed Rs. 62,31,242/- for transportation services provided to Empee Distilleries since 2005. The Corporate Insolvency Resolution Process (CIRP) of Empee Distilleries commenced on 01.11.2018. A resolution plan was approved on 20.01.2020, which included a contingency fund of Rs. 7 Crore for six months from the approval date. The Resolution Professional requested Gopi to submit supporting documents for his claim by 29.07.2019. Gopi failed to provide the necessary documents, and the Resolution Professional rejected the claim on 17.08.2019. Gopi filed an application before the Adjudicating Authority, seeking payment from the contingency fund,
…Corporate Insolvency…
90 days prescribed in the IBBI (Resolution…