# In the matter of Granite Gate Properties P. Ltd. (IB)-1248(PB)-2018

> NCLT judgment dated 2020-07-20. Citation: TCN-2020-NCLT-01003. The case involves an application (IA-2481/2020) filed by the Applicant/contractor against the…

- **Court:** NCLT
- **Order date:** 20 Jul 2020
- **Citation:** TCN-2020-NCLT-01003
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/granite-gate-properties-p-ltd-ib-1248pb-2018-a6cb5b54

## Summary

### Background

The case involves an application (IA-2481/2020) filed by the Applicant/contractor against the Resolution Professional (RP) for non-payment of Rs 2.71 Crore for completed work. The Applicant claims that the erstwhile RP had given an indent on January 25, 2019, but the amount remains unpaid even after the appointment of a new RP on November 27, 2019. The RP contends that irregularities occurred, and an audit is in progress to determine the actual amount payable. The court addresses the delay in resolving the payment issue.

## Facts

The Applicant/contractor claims non-payment of Rs 2.71 Crore for completed work based on an indent from the erstwhile Resolution Professional (RP) dated January 25, 2019. A new RP was appointed on November 27, 2019. The Applicant placed its claim before the RP, but the RP has neither rejected nor paid the claim. The RP argues that irregularities occurred, and an audit is in progress to determine the actual amount payable. The Applicant has also filed IA-2737/2020 and IA/2757/2020, which are listed for hearing on 18.08.2020. The applicant has withdrawn IA-2726/2020.

## Issues and analysis

### Issue 1: Whether the Resolution Professional is justified in delaying the decision on the payment of Rs 2.71 …

**Ratio:** The principle of prompt resolution in CIRP

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**Reasoning:** The court notes that the RP has been appointed for over six months and should have

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**Interpretation:** The legal issue concerns the timeliness of decisions by the Resolution

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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## Parties

- **Judges:** B.S.V. Prakash…; HEMANT KUMAR…
- **Appellants:** Shinoj…
- **Respondents:** M/s. Granite Gate…

## Timeline

- **2019-01-25 — Indent by Erst…**: Erstwhile Resolution Professional gave an indent…
- **2019-11-27 — Appointment o…**: A new Resolution Professional was appointed in place of the erstwhile Resolution…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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