Advent Infraprojects Private Limited vs Varun Goel

IA No.155/2022

This is an application filed by ‘Advent Infraprojects Pvt. Ltd.’ seeking the following reliefs :-

(A) Direct the respondent no.1 to revise the claim submitted by the Applicant-Company under the category of a Financial Creditor as well as the Applicant-Company be included in the Constitution of the Committee of Creditors;

(B) Direct the respondent no.1 to allow the Applicant-Company to sit in the meeting of the Committee of Creditors and to allow the Applicant-Company to vote in accordance with law over the proposed agendas of the meeting of the Committee of Creditors for which the voting is called upon in the concerned meeting of the Committee of Creditors.

(C) Direct the respondent no.1 and 2 for ensuring that no voting is called upon over the approval of the prospective Resolution Plan till the Applicant-Company is included in the meeting of the Committee of Creditors as well as is allotted the voting rights under the Code, 2016.

It is submitted by the Ld. Counsel appearing for the applicant that the Resolution Professional has not proceeded to collate the claims even though all the documents sought for were provided vide various emails.

Per contra the Ld. Counsel appearing for the RP submits that not only was the claim submitted belatedly, it was originally submitted in the wrong form and later on submitted in the correct form after the expiry of the last date fixed for receipt of claims. This involves the question of the capacity of the applicant to sit on the CoC. The RP is hereby directed to consider the claim and collate the same in accordance with the CIRP Regulations within a period of ten days from today. If the applicant is eligible to have a seat on the CoC, then the CoC shall be reconstituted immediately thereafter. However, even in such a case, there shall be no revisiting of the decisions previously taken by the CoC.

It is submitted by the Ld. Counsel appearing for the RP that some documents are required to be provided by the key managerial personnel of the corporate debtor for collation of the present claims. It is also submitted that no cooperation has been extended by the Suspended Management in spite of various emails written by the RP to them. A copy of this order shall be communicated to the members of the Suspended Board and other key managerial personnel who shall upon receipt thereof extend full cooperation and hand over copies of the documents sought for by the RP within a period of four days from the date on which the copy of this order is communicated to the key managerial personnel. On his part, the RP shall also make proper list of such documents as are required from the members of the Suspended Board and communicate the same to them by the end of today.

With these directions, IA No.155/2022 shall stand disposed off.