# In the matter of Merchem Limited & Anr. MA-1&-2019 in CP-689-IB-2017

> NCLT judgment dated 2019-01-30. Citation: TCN-2019-NCLT-05096. The case involves an application (MA/1&2/2019) filed by M/s. Srivaari Chemicals Pvt. Ltd. in…

- **Court:** NCLT
- **Order date:** 30 Jan 2019
- **Citation:** TCN-2019-NCLT-05096
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/merchem-limited-anr-ma-1-2019-in-cp-689-ib-2017-733cec9e

## Summary

### Background

The case involves an application (MA/1&2/2019) filed by M/s. Srivaari Chemicals Pvt. Ltd. in CP/689/IB/2017 under Section 42 of the Insolvency and Bankruptcy Code, 2016, seeking the addition of their claim of Rs. 34,28,734/- to the list of creditors of the Corporate Debtor, M/s. Merchem Limited. The application also seeks condonation of delay in filing MA/2/2019. The Resolution Professional (RP) rejected the claim, stating that it was not submitted in the prescribed format and the Corporate Debtor's books did not reflect the amount payable to the Applicant.

## Facts

M/s. Srivaari Chemicals Private Limited (Applicant) filed MA/1/2019 seeking condonation of delay in filing MA/2/2019, which was filed on 21.12.2018, seeking addition of their claim of Rs. 34,28,734/- to the list of creditors of M/s. Merchem Limited (Corporate Debtor). The claim pertains to the supply of goods in July and August 2013. The Corporate Debtor approached the Applicant for the supply of goods. Invoices were raised on 14.07.2013, 07.08.2013, and 12.08.2013. The Corporate Debtor made sporadic payments totaling Rs. 18,47,123 out of a total recoverable sum of Rs. 53,75,887. CP/689/IB/2017 was admitted on 15.01.2018 for initiation of CIRP. The Applicant submitted its claim on 23.01.2018. The RP rejected the claim on 03.08.2018 because the books of account of the

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## Issues and analysis

### Issue 1: Whether the application for adding the applicant's …

**Ratio:** A claim can only be entertained before

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**Reasoning:** The Resolution Plan has already been approved by the Authority. No claim can be

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**Interpretation:** Once a resolution plan is approved, no further claims can be entertained,

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**Application:** Since the Resolution Plan has already been approved, the applicant's claim

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## Parties

- **Judges:** Ch. Mohd Sharief…
- **Appellants:** M/s. Srivaari…
- **Respondents:** M/s Merchem…

## Timeline

- **2013-07-01 — Supply of…**: Corporate Debtor approached the Applicant for supply of goods to be used for its…
- **2013-07-14 — Invoice…**: Invoice dated 14.07.2013 was raised for the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 42 — Appeal against the decision of liquidator](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-42)

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