# In the matter of Ahinsa Buildtech Private Limited IA No. 1982 of 2021 in CP (IB) 3562-MB-2018

> NCLT judgment dated 2022-03-24. Citation: TCN-2022-NCLT-03568. The appellant filed an application under Section 60(5) of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 24 Mar 2022
- **Citation:** TCN-2022-NCLT-03568
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ahinsa-buildtech-private-limited-ia-no-1982-of-2021-in-cp-ib-3562-mb-2018-053a825c

## Summary

### Background

The appellant filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Regulation 8A of the IBBI Regulations, against the Respondent Resolution Professional, seeking admission of their claim as a Financial Creditor in the matter of Ahinsa Buildtech Private Limited. The Corporate Debtor, Ahinsa Buildtech Private Limited, was admitted into insolvency on 04.11.2019. The applicant booked a flat on 19.01.2012 and paid Rs. 58,95,428 towards its purchase, which was acknowledged by the Corporate Debtor on 10.07.2015. Post CIRP initiation, the applicant filed their claim on 04.08.2021. The RP rejected the claim, citing it as time-barred and lacking substantial documents.

## Facts

The applicant, Pravin Electricals Private Limited, booked a flat on 19.01.2012 and paid Rs. 58,95,428 towards its purchase. This payment was acknowledged by the Corporate Debtor, Ahinsa Buildtech Private Limited, on 10.07.2015. Ahinsa Buildtech Private Limited was admitted into CIRP on 04.11.2019. The applicant filed a claim as a financial creditor on 04.08.2021, which was 638 days after the initiation of CIRP. The Resolution Professional (RP) rejected the claim, citing it as time-barred and lacking substantial documents. The RP also pointed out that the applicant had previously attempted to transfer the allotment in 2012 and that the original allotment letter was not produced. The CoC had already approved a resolution plan with significant voting shares. The last date

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## Issues and analysis

### Issue 1: Whether the claim of the Applicant can be entertained as it was filed with a delay of 638 days …

**Ratio:** The Code mandates filing a claim in pursuance of public announcement under Regulation 12

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**Reasoning:** The applicant filed the claim Form-CA only on 04.08.2021, which was significantly

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**Interpretation:** Regulation 12(2) of the IBBI Regulations stipulates a timeline for creditors to

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**Application:** The applicant's claim was filed 638 days after the initiation of CIRP, far

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## Parties

- **Judges:** SUCHITRAKAN…; ANURADHA SANJAY…
- **Appellants:** Pravin Electricals…
- **Respondents:** Ahinsa Buildtech…; Vijay Pitamber…
- **Advocates:** Arjun Pad…; Chaitanya B…

## Timeline

- **2012-01-19 — Flat Boo…**: The Applicant booked a flat bearing Flat no. 205, on 2nd Floor, in Building A, Orbit…
- **2015-07-10 — Acknowledgement of…**: The amount paid by the Applicant was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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