# In the matter of Samson and Sons Builders and Developers Pvt. Ltd. IA(IBC)57-KOB-2023 in CP(IB)-05-KOB-2021

> NCLT judgment dated 2023-05-04. Citation: TCN-2023-NCLT-03470. The application was filed by M/s. Silpa Projects and Infrastructure (I) Private Limited under…

- **Court:** NCLT
- **Order date:** 4 May 2023
- **Citation:** TCN-2023-NCLT-03470
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/samson-and-sons-builders-and-developers-pvt-ltd-iaibc57-kob-2023-in-cpib-05-kob-65d9a34e

## Summary

### Background

The application was filed by M/s. Silpa Projects and Infrastructure (I) Private Limited under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Rules 11 and 32 of the NCLT Rules, 2016, seeking the condonation of a 329-day delay in filing a claim (Annexure A2) before the Resolution Professional (RP) and to quash the rejection e-mail (Annexure A1). The applicant also sought a direction to the RP to admit their claim. The applicant's claim of Rs 14,56,85,548/- is related to two projects undertaken for the Corporate Debtor. The applicant states that the amounts due are secured by attachment orders under Section 9 of the Arbitration & Conciliation Act, 1996. The Corporate Debtor created an equitable mortgage in favor of the applicant by depositing

…

## Facts

M/s. Silpa Projects & Infrastructure (I) Private Limited (Applicant) filed an application seeking condonation of a 329-day delay in submitting a claim to the Resolution Professional (RP) of M/s. Samson and Sons Builders & Developers (P) Ltd. (Corporate Debtor). The claim amounts to Rs 14,56,85,548/- and relates to two projects undertaken by the Applicant for the Corporate Debtor. The Applicant's claim is secured by attachment orders under Section 9 of the Arbitration & Conciliation Act, 1996, and an equitable mortgage created by depositing title deeds on 10.06.2016. The RP rejected the claim on 04.01.2023, citing that it was filed after the 90-day period prescribed in Regulation 12 of the IBBI (Resolution Process for Corporate Persons) Regulations, 2016.

…

## Issues and analysis

### Issue 1: Whether the delay of 329 days in filing the …

**Ratio:** The NCLT has the discretion to condone delays in certain circumstances, especially when

…

**Reasoning:** The Tribunal considered the decision of the NCLT, Principal Bench, New Delhi in State

…

**Interpretation:** This interpretation suggests that the strict timelines prescribed under the IBC

…

**Application:** The Tribunal applied this principle to the present case, noting that the RP had

…

## Parties

- **Judges:** Shri. P. Mo…; SHRI. SATYA…
- **Appellants:** M/s. Silpa…
- **Respondents:** M/s. Samson and…; K. Parameswaran…

## Timeline

- **2016-06-10 — Equitable Mortgage…**: The Corporate Debtor created an equitable mortgage in favor of M/s. Silpa Projects and…
- **2017-07-31 — Arbitration…**: Attachment orders passed under Section 9 of the Arbitration & Conciliation Act, 1996 in…

## 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/samson-and-sons-builders-and-developers-pvt-ltd-iaibc57-kob-2023-in-cpib-05-kob-65d9a34e