# In the matter of Asten Realtors Private Limited

> NCLT judgment dated 2024-01-19. Citation: TCN-2024-NCLT-02980. The application MA(IBC)/05/KOB/2023 was filed under Section 60(5) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 19 Jan 2024
- **Citation:** TCN-2024-NCLT-02980
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/asten-realtors-private-limited-092b1e45

## Summary

### Background

The application MA(IBC)/05/KOB/2023 was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, by the Assistant Commissioner, State Goods and Service Tax Department, concerning M/s. Asten Realtors Private Ltd. The applicant sought a direction to the Resolution Professional (RP) to accept Annexure A2 claim. The Corporate Insolvency Resolution Process (CIRP) had been initiated against M/s. Asten Realtors Private Ltd. vide order No. CP/IBC/54/KOB/2022 dated 25/01/2023. The IRP made a public announcement inviting claims on 28/01/2023. The applicant filed a claim in Form B on 21/07/2023, which was rejected by the respondent. The applicant had issued a notice for personal appearance of the RP on 14/08/2023 and proceeded with passing an order on 08/08/2023

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## Facts

The Assistant Commissioner, State Goods and Service Tax Department, filed a claim against M/s. Asten Realtors Private Ltd., which is undergoing Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated on 25/01/2023. The IRP made a public announcement on 28/01/2023, inviting claims. The applicant filed its claim on 21/07/2023, which was rejected by the Resolution Professional (RP) due to being filed beyond the 90-day statutory period. The applicant had issued a notice for personal appearance of the RP on 14/08/2023 and proceeded with passing an order on 08/08/2023 determining the liability of the Corporate Debtor. The applicant's claim was based on a show cause notice issued to the Corporate Debtor on 29/10/2022 under Section 73(1) of the KGST Act. The RP

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## Issues and analysis

### Issue 1: Whether the belated claim submitted by the applicant …

**Ratio:** Regulation 12(1) of the IBBI (Insolvency Resolution Process for Corporate Persons)

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**Reasoning:** The Tribunal noted that the applicant's claim was delayed by 87 days. However, the

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**Interpretation:** Even if the law does not permit filing of claim by any creditor after the 90th

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**Application:** In this case, the Tribunal took a lenient view of the delay, considering it

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## Parties

- **Judges:** Shri. Shyam Babu…; TMT. Justice T…
- **Appellants:** Assistant…
- **Respondents:** Asten Realtors…; CA RAJENDR…
- **Advocates:** Arun Ch…; Vinod…

## Timeline

- **2022-10-29 — Show Cause…**: Show cause notice issued to the Corporate…
- **2023-01-25 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) initiated against M/s. Asten Realtors…

## 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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