The case involves multiple Interlocutory Applications (IAs) filed by various applicants against the rejection of their claims by the Resolution Professional (RP) in the Corporate Insolvency Resolution Process (CIRP) of a Corporate Debtor. The applicants are seeking condonation of delay in filing their claims. The RP rejected the claims because they were filed after the last date for submission of claims, which was 16.10.2022. The RP also stated that the claims were beyond the powers of the RP to admit. The applicants relied on a judgment of the NCLAT in the matter of Punjab National Bank v. Mr. Animesh Mukhopadhyay, where the NCLAT condoned the delay in submission of proof of PNB's claim. The RP argued that the applicants failed to file their claims before the expiry
…The Corporate Insolvency Resolution Process (CIRP) was initiated, and a public announcement was made on 2022-07-12, setting 2022-07-22 as the last date for claim submission. Several applicants, including Berger Paints India Ltd., M/s AAR CEE Auto Components Pvt. Ltd., S. Ramachandran, Smart Tooling, and Micro Turner, filed claims after the deadline. Berger Paints India Ltd.'s claim for Rs. 18,49,510 was rejected, with the RP citing that the last date for submission was 2022-10-16, and the claim was filed with a delay of 67 days. M/s AAR CEE Auto Components Pvt. Ltd.'s claim was also rejected for being filed after the deadline. Similarly, S. Ramachandran, Smart Tooling, and Micro Turner had their claims rejected for delays. The Resolution Professional (RP) argued that
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The case involves multiple Interlocutory Applications (IAs) filed by various applicants against the rejection of their claims by the Resolution Professional (RP) in the Corporate Insolvency Resolution Process (CIRP) of a Corporate Debtor. The applicants are seeking condonation of delay in filing their claims. The RP rejected the claims because they were filed after the last date for submission of claims, which was 16.10.2022. The RP also stated that the claims were beyond the powers of the RP to admit. The applicants relied on a judgment of the NCLAT in the matter of Punjab National Bank v. Mr. Animesh Mukhopadhyay, where the NCLAT condoned the delay in submission of proof of PNB's claim. The RP argued that the applicants failed to file their claims before the expiry
…The Corporate Insolvency Resolution Process (CIRP) was initiated, and a public announcement was made on 2022-07-12, setting 2022-07-22 as the last date for claim submission. Several applicants, including Berger Paints India Ltd., M/s AAR CEE Auto Components Pvt. Ltd., S. Ramachandran, Smart Tooling, and Micro Turner, filed claims after the deadline. Berger Paints India Ltd.'s claim for Rs. 18,49,510 was rejected, with the RP citing that the last date for submission was 2022-10-16, and the claim was filed with a delay of 67 days. M/s AAR CEE Auto Components Pvt. Ltd.'s claim was also rejected for being filed after the deadline. Similarly, S. Ramachandran, Smart Tooling, and Micro Turner had their claims rejected for delays. The Resolution Professional (RP) argued that
…Public announcement…
Last date for…