NBCC (India) Limited, an operational creditor, filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking direction upon the Resolution Professional to accept its claim of Rs. 40,64,01,910. The applicant claimed it was unaware of the ongoing CIRP against McNally Bharat Engineering Company Limited, the corporate debtor, and therefore could not raise its claim before the Resolution Professional promptly. The applicant submitted its claim in Form-B on 27.02.2023, which was rejected by the Resolution Professional via email on 01.03.2023, citing a delay of 210 days in filing the claim. The applicant sought condonation of the delay and a direction for the Resolution Professional to consider its claim afresh.
The Corporate Debtor, McNally Bharat Engineering Company Limited, was admitted into CIRP on 29.04.2022. The IRP published a public announcement on 07.05.2022, informing creditors to submit claims by 18.05.2022. Form G was published on 05.07.2022, inviting expressions of interest. The IRP sent letters to NBCC (India) Ltd. on 14.07.2022 and 13.10.2022, informing them of the CIRP and requesting payment of amounts due to the Corporate Debtor. The deadline for submitting claims was 02.08.2022. NBCC submitted its claim on 27.02.2023, after resolution plans were already under CoC consideration. The Resolution Professional rejected the claim on 01.03.2023. NBCC claimed unawareness of the CIRP, which the Resolution Professional contested. NBCC sought acceptance of its claim of
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The Corporate Debtor…
The IRP published a Public Announcement in Form…
NBCC (India) Limited, an operational creditor, filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking direction upon the Resolution Professional to accept its claim of Rs. 40,64,01,910. The applicant claimed it was unaware of the ongoing CIRP against McNally Bharat Engineering Company Limited, the corporate debtor, and therefore could not raise its claim before the Resolution Professional promptly. The applicant submitted its claim in Form-B on 27.02.2023, which was rejected by the Resolution Professional via email on 01.03.2023, citing a delay of 210 days in filing the claim. The applicant sought condonation of the delay and a direction for the Resolution Professional to consider its claim afresh.
The Corporate Debtor, McNally Bharat Engineering Company Limited, was admitted into CIRP on 29.04.2022. The IRP published a public announcement on 07.05.2022, informing creditors to submit claims by 18.05.2022. Form G was published on 05.07.2022, inviting expressions of interest. The IRP sent letters to NBCC (India) Ltd. on 14.07.2022 and 13.10.2022, informing them of the CIRP and requesting payment of amounts due to the Corporate Debtor. The deadline for submitting claims was 02.08.2022. NBCC submitted its claim on 27.02.2023, after resolution plans were already under CoC consideration. The Resolution Professional rejected the claim on 01.03.2023. NBCC claimed unawareness of the CIRP, which the Resolution Professional contested. NBCC sought acceptance of its claim of
…The Corporate Debtor…
The IRP published a Public Announcement in Form…