# In the matter of Theme Export Private Ltd. Company Appeal IBC- 01-ND-2021 Connected with Company Petition (IB) - 323-ND-2019

> NCLT judgment dated 2021-10-12. Citation: TCN-2021-NCLT-00753. The case involves an appeal filed by a creditor, Mr. Virender Singh, against the decision of…

- **Court:** NCLT
- **Order date:** 12 Oct 2021
- **Citation:** TCN-2021-NCLT-00753
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/theme-export-private-ltd-company-appeal-ibc-01-nd-2021-connected-with-company-pe-b8b0c031

## Summary

### Background

The case involves an appeal filed by a creditor, Mr. Virender Singh, against the decision of the Liquidator of Theme Export Private Ltd for rejecting his claim due to a delay in filing. The creditor had granted an unsecured loan to the Corporate Debtor (Theme Export Private Ltd) in January 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 29.08.19, and the liquidation application was admitted on 29.07.2020. The liquidator made a public announcement on 01.08.20, setting the last date for claim submission as 28.08.20. The creditor filed his claim on 29.10.20, which was rejected by the liquidator on 09.12.20 because it was filed after the deadline.

## Facts

Mr. Virender Singh, the appellant, granted an unsecured loan of Rs 6,92,89,068 to Theme Export Private Ltd, the corporate debtor, in January 2016. The Corporate Insolvency Resolution Process (CIRP) against Theme Export Private Ltd was initiated on 29.08.2019, and the liquidation application was admitted on 29.07.2020. The liquidator made a public announcement on 01.08.2020, setting the last date for claim submission as 28.08.2020. Mr. Singh filed his claim on 29.10.2020, which the liquidator received on 31.10.2020. The liquidator rejected the claim on 09.12.2020, stating it was filed after the deadline. Mr. Singh claimed he was unaware of the liquidation due to the Covid-19 pandemic and being a senior citizen. The liquidator argued there was no provision to condone the

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## Issues and analysis

### Issue 1: Whether the Liquidator was justified in rejecting the …

**Ratio:** The Liquidator is obligated to adhere to the timelines prescribed under the Insolvency

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**Reasoning:** The court reasoned that the liquidator acted correctly in rejecting the claim because it

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**Interpretation:** The IBC mandates strict adherence to timelines to ensure the efficient and

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**Application:** The Appellant's claim was filed after the last date for submission of claims,

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## Parties

- **Judges:** ABNI RANJAN KUMAR…; K.K. V…
- **Appellants:** Virender…
- **Respondents:** Theme Export…

## Timeline

- **2016-01-01 — Loan Gra…**: Mr. Virender Singh granted an unsecured…
- **2019-08-29 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP)…

## 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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