# In the matter of Asten Realtors Private Limited

> NCLT judgment dated 2024-01-19. Citation: TCN-2024-NCLT-02984. 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-02984
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/asten-realtors-private-limited-d62f7e1a

## Summary

### Background

The application MA(IBC)/05/KOB/2023 was filed under Section 60(5) of the Insolvency and Bankruptcy Code (IBC) of 2016 by the Assistant Commissioner, State Goods and Service Tax Department, against M/s. Asten Realtors Private Ltd., which is undergoing Corporate Insolvency Resolution Process (CIRP). The applicant sought a direction to the Resolution Professional (RP) to accept Annexure A2 claim. The CIRP was initiated against Asten Realtors Private Ltd. on 25/01/2023. The RP invited claims, with a deadline of 08/02/2023. The applicant filed their claim on 21/07/2023, which was rejected by the RP. The applicant also issued a notice for personal appearance of the RP, despite the moratorium declared by the Tribunal.

## Facts

The Assistant Commissioner, State Goods and Service Tax Department (Applicant), filed a claim against M/s. Asten Realtors Private Ltd. (Corporate Debtor) which is undergoing CIRP. The CIRP was initiated on 25/01/2023. The RP invited claims with a deadline of 08/02/2023. The applicant filed their claim on 21/07/2023, with a delay of 87 days. The applicant's claim was based on a show cause notice issued to the Corporate Debtor on 29/10/2022 under Sec. 73(1) KGST Act. The RP rejected the claim as it was filed beyond the statutory period of 90 days. The applicant also issued a notice for personal appearance of the RP on 14/08/2023, despite the moratorium declared by the Tribunal. The applicant proceeded with passing of an order on 08.08.2023 determining liability of CD,

…

## 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)

…

**Reasoning:** The Tribunal noted that the respondent had not denied the proceedings of tax assessments

…

**Interpretation:** The legal issue revolves around the interpretation of the IBBI regulations

…

**Application:** In this case, the applicant's claim was delayed by 87 days. The Tribunal

…

## Parties

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

## Timeline

- **2023-01-25 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) proceedings initiated against M/s. Asten…
- **2023-01-28 — Public Annou…**: IRP made public…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/asten-realtors-private-limited-d62f7e1a