Krishan Vs H.S. Oberoi Buildtech Private Limited (NCLAT Delhi)
NCLAT Delhi held that post approval of resolution plan both by CoC and the adjudicating authority, it cannot be reopened on the basis of claims being belatedly agitated by the appellant. Thus, admission of claim rightly rejected by adjudicating authority.
Facts-The Appellant is a home-buyer in a project named “Earth Iconic” which was being developed by Earth Infrastructure Ltd. The Appellant had received an allotment letter from EIL on 31.06.2012 and had paid a sum of Rs 15,15,450/- to EIL on instalment basis against basic sale consideration of Rs 22,82,918/-. On 06.06.2018, Corporate Insolvency Resolution Process was initiated against EIL and subsequently CIRP was initiated against Celestial Estate Ltd. who were the land owners of the said project. The Adjudicating Authority on 15.03.2021, had directed EIL to transfer the partly constructed structure of Earth Iconic project to CEPL and most of the creditors of EIL had transferred their claim to CEPL.
It is the claim of the Appellant that they came to know about the CIRP proceedings of the Corporate Debtor only in November 2023. Since the Appellant was unaware of the CIRP of the Corporate Debtor, he was unable to file his claim before the Resolution Professional of EIL or CEPL within the prescribed time line.
