The case involves an application filed by Ultra Tech Cement Limited, the Applicant, under section 60(5) of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Minita D. Raja, the Resolution Professional, for rejection of a claim. The Applicant's claim was rejected by the Respondent via email dated 20.11.2019, stating that the amount claimed was disputed and pending adjudication before the Arbitral Tribunal & District Court. The Corporate Debtor initiated arbitration proceedings against the Applicant, and the Applicant filed a cross-claim. The Applicant's claim amounts to Rs.35,58,96,601/-. The Respondent argues that the claim was filed late and that the amount claimed does not appear in the Corporate Debtor's books of accounts.
Ultra Tech Cement Limited (UTCL) filed a claim of Rs.35,58,96,601/- as an operational creditor against the Corporate Debtor, which was undergoing the Corporate Insolvency Resolution Process (CIRP). Minita D. Raja was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP rejected UTCL's claim because the amount was disputed and pending adjudication before the Arbitral Tribunal and District Court. The Corporate Debtor had initiated arbitration proceedings against UTCL, and UTCL had filed a counter-claim. UTCL filed its claim with the RP on 12.11.2019, after the last date for filing claims as per the public announcement, which was 07.11.2019. The admission order of the Corporate Debtor was passed on
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The admission of CIRP…
Minita D. Raja was…
The case involves an application filed by Ultra Tech Cement Limited, the Applicant, under section 60(5) of the Insolvency & Bankruptcy Code, 2016 (I&B Code) against Minita D. Raja, the Resolution Professional, for rejection of a claim. The Applicant's claim was rejected by the Respondent via email dated 20.11.2019, stating that the amount claimed was disputed and pending adjudication before the Arbitral Tribunal & District Court. The Corporate Debtor initiated arbitration proceedings against the Applicant, and the Applicant filed a cross-claim. The Applicant's claim amounts to Rs.35,58,96,601/-. The Respondent argues that the claim was filed late and that the amount claimed does not appear in the Corporate Debtor's books of accounts.
Ultra Tech Cement Limited (UTCL) filed a claim of Rs.35,58,96,601/- as an operational creditor against the Corporate Debtor, which was undergoing the Corporate Insolvency Resolution Process (CIRP). Minita D. Raja was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP rejected UTCL's claim because the amount was disputed and pending adjudication before the Arbitral Tribunal and District Court. The Corporate Debtor had initiated arbitration proceedings against UTCL, and UTCL had filed a counter-claim. UTCL filed its claim with the RP on 12.11.2019, after the last date for filing claims as per the public announcement, which was 07.11.2019. The admission order of the Corporate Debtor was passed on
…The admission of CIRP…
Minita D. Raja was…