ICICI Bank Ltd vs ABG Shipyard Ltd

Application filed by one of the claimants seeking direction to condone the delay of 192 days in filing the claim before the liquidator. Learned Counsel for the applicant states that the claimant is Operational Creditor. On perusal of application, nowhere copy of claim form submitted to the liquidator is annexed. On query raised by the Bench, Learned Counsel for the applicant states that they have not filed any documents supporting to their claim with the liquidator. It is only after the delay is condoned, he will take instruction to file appropriate documents to be submitted. We fail to understand on what ground applicant seeks condonation of delay without showing any supporting documents for its claim. Learned Counsel Mr. Davawala for the liquidator states that two of the properties of the corporate debtor have been disposed of and distribution has been made to the respective creditors as on date with respect to the amount received. Few other properties are still to be disposed of. On further going through the application, it is found that details mentioned with respect to payability of the claim as per the applicant is from year 2008 and last communication is of year 2017. Learned Counsel for the applicant states that he needs to take further instruction whether there are further communication to extend the limitation while placing claim before liquidator and seeks further indulgence to grant time. We condone the delay in filing the claim. Appropriate claim form be filed within one week before the liquidator with all the appropriate documents in support of the claim. Liquidator shall accept the claim and verify the same as per law and take appropriate steps.

Application is allowed and disposed of in terms of above order.

Order dated 10.01.2022 records that Learned Counsel for both sides made statement that parties are settling the matter. Learned Counsel Mr. Pahwa for the applicant states that process is still on and the bank officials could not give appropriate instructions for filing affidavit in compliance to the said order. As a last chance, one week’s time is granted to the applicant to comply with the order, else, application will be considered for disposal.

List on 07.04.2022.