The case involves an application filed by American Express Banking Corp (the Applicant) against Fourth Dimension Solution Ltd (the Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Applicant sought several reliefs, including setting aside a communication from the Resolution Professional (RP) rejecting their claim, directing a forensic audit of the Corporate Debtor's books, and directing the RP to verify and admit the Applicant's claim. The Resolution Plan had already been approved by the Committee of Creditors (COC) and the Adjudicating Authority before the Applicant's claim was formally submitted.
American Express Banking Corp filed an application against Fourth Dimension Solution Ltd under Section 7 of the IBC, 2016, seeking to set aside the RP's rejection of their claim, conduct a forensic audit, and verify/admit their claim. The Applicant's claim was submitted after the Resolution Plan had been approved by the COC on April 28, 2020, and the Adjudicating Authority on September 25, 2020. The Applicant's counsel admitted that the claim was drafted in March 2020 but inadvertently remained in their office until June 2020. The RP received the claim in June 2020. The court noted that the COC had approved the Resolution Plan before the claim was submitted. The Applicant also filed IA/2158/2020 & IA/5559/2020 and IA/1294/2021 seeking other reliefs.
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Date of the impugned communication issued by the…
Date of the claim filed…
The case involves an application filed by American Express Banking Corp (the Applicant) against Fourth Dimension Solution Ltd (the Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Applicant sought several reliefs, including setting aside a communication from the Resolution Professional (RP) rejecting their claim, directing a forensic audit of the Corporate Debtor's books, and directing the RP to verify and admit the Applicant's claim. The Resolution Plan had already been approved by the Committee of Creditors (COC) and the Adjudicating Authority before the Applicant's claim was formally submitted.
American Express Banking Corp filed an application against Fourth Dimension Solution Ltd under Section 7 of the IBC, 2016, seeking to set aside the RP's rejection of their claim, conduct a forensic audit, and verify/admit their claim. The Applicant's claim was submitted after the Resolution Plan had been approved by the COC on April 28, 2020, and the Adjudicating Authority on September 25, 2020. The Applicant's counsel admitted that the claim was drafted in March 2020 but inadvertently remained in their office until June 2020. The RP received the claim in June 2020. The court noted that the COC had approved the Resolution Plan before the claim was submitted. The Applicant also filed IA/2158/2020 & IA/5559/2020 and IA/1294/2021 seeking other reliefs.
Date of the impugned communication issued by the…
Date of the claim filed…