# In the matter of Vijaygroup Realty LLP

> NCLT judgment dated 2023-10-25. Citation: TCN-2023-NCLT-01036. The case involves an application filed by Kalpana Shantilal Haria against Mr. Anshul Gupta, the…

- **Court:** NCLT
- **Order date:** 25 Oct 2023
- **Citation:** TCN-2023-NCLT-01036
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/vijaygroup-realty-llp-9aff185a

## Summary

### Background

The case involves an application filed by Kalpana Shantilal Haria against Mr. Anshul Gupta, the Resolution Professional of M/s Vijay Group Realty LLP, seeking condonation of delay in filing a claim in the Corporate Insolvency Resolution Process (CIRP) of M/s Vijay Group Realty LLP. The applicant claims to have provided financial assistance to the corporate debtor, but remained unaware of the CIRP initiation. The Resolution Professional rejected the claim due to a significant delay beyond the prescribed 90-day period from the CIRP commencement date.

## Facts

Kalpana Shantilal Haria (the Applicant) provided financial assistance of Rs. 75,00,000 to M/s Vijay Group Realty LLP (the Corporate Debtor) on March 09, 2018, with an interest rate of 18% per annum. The Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor commenced on August 4, 2021, and Mr. Anshul Gupta was appointed as the Resolution Professional. The Resolution Professional issued Form-A, inviting claims from creditors, with the latest Form-A issued on August 16, 2021. The Applicant claims to have been unaware of the CIRP initiation and filed their claim on July 3, 2023, for Rs. 1,15,50,000, which includes interest. The Resolution Professional rejected the claim via email on July 20, 2023, citing the delay and the fact that resolution plans

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## Issues and analysis

### Issue 1: Whether the delay in filing the claim by the Applicant in the CIRP of the Corporate Debtor can be …

**Ratio:** The Adjudicating Authority has discretionary powers to condone the delay in submission of

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**Reasoning:** The NCLT reasoned that the applicant's explanation of being unaware of the CIRP was

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**Interpretation:** Regulation 12(2) of the IBBI (Insolvency Resolution Process of Corporate

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**Application:** The applicant filed the claim 606 days after the cut-off date. The applicant's

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## Parties

- **Judges:** LAKSHMI G…; SH. CHARANJEET…
- **Appellants:** Kalpana Shantilal…
- **Respondents:** M/s. Vijay Group…; Anshul…

## Timeline

- **2018-03-09 — Loan Disbur…**: Applicant disbursed Rs.…
- **2021-08-04 — CIRP Commen…**: Corporate Insolvency Resolution Process (CIRP)…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 15 — Public announcement of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-15)

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