CSA Corporation Pvt. Ltd Vs Rajiv Bhatnagar (NCLAT Delhi)
NCLAT Delhi held that belated filing of contingent claims (i.e. claims arising from damages and breach of contract) is rightly rejected by the resolution professional. Accordingly, appeal dismissed.
Facts- The present appeal filed under Section 61 of Insolvency and Bankruptcy Code 2016 by the Appellant arises out of the Order dated 30.05.2024 passed by the Adjudicating Authority. By the impugned order, the Adjudicating Authority has dismissed the appeal filed by the Appellant-M/s CSA Corporation Pvt. Ltd. against the Resolution Professional-Respondent for rejection of their claim of Rs. 18,50,63,527/- in the CIRP process of the Corporate Debtor. Aggrieved by the impugned order, the present appeal has been preferred by the Appellant.
Conclusion- Held that in the present case too, when the claims have been filed belatedly after 548 days and that too the claims arise from damages and breach of contract which according to the Appellant is admittedly contingent, the RP’s action to reject the claim by way of a reasoned reply to the Appellant cannot be put to fault. We have already held that the process followed by the RP was reasonably transparent and not found to be marred by arbitrariness or irregularities as such. We find sense in the contention of the RP that if the claims of creditors are to be accepted by the RP in a perfunctory manner inspite of such a humungous delay of 548 days and that too without cogent grounds substantiating the delay, it would disrupt the successful resolution of the Corporate Debtor and tantamount to defeating the objectives of IBC of making CIRP a time-bound process. Prima-facie, we do not find any incidence of unfairness or guile on the part of the RP in the manner in which it dealt with the claim preferred by the Appellant. We do not find any justifiable reason to doubt the bonafide of the RP in not admitting the claim of the Appellant. The Adjudicating Authority had not committed any error in the given facts and circumstances in not acceding to the request of the Appellant for admission of their claims.
