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Judgment
This is an application filed by the IRP appointed under CP(IB) No.1406/ND/2020 where following prayers have been made:-
RELIEFS SOUGHT:
In view of the facts mentioned in para-B below the Applicant prays:
i.Allow the present application; and
ii.Pass an Order directing the Appellant to pay the CIRP Cost of Rs.18,50,248/- (Rupees Eighteen Lakhs Fifty Thousand Two Hundred And Forty Eight Rupees Only) on actuals basis;
Ld. Counsel for the applicant submits that although in the application only prayer was sought for payment of CIRP cost which has already been paid, in the application the applicant has brought certain details of transactions conducted by the suspended directors of the corporate debtor. Submission is that transfer of the amount after initiation of the moratorium was not permissible.
This appeal was finally disposed of vide judgment dated 28.2.2024 taking settlement on record. This application has been filed subsequent to disposal of the appeal.
Ld. Counsel for the parties submits that corporate debtor i.e; KLT Automatic and Tabular Products Limited has gone again in CIRP vide order dated 26.09.2024 passed on the application filed on behalf of the Phoenix ARC Pvt. Ltd. Ld. Counsel for the parties submits that in view of the fact that CIRP against the CDs has again commenced, any transaction which were undertaken by the corporate debtor or its suspended directors can be open to be questioned by appropriate application by the IRP/ RP in the CIRP which is onway and is still proceeding. In the affidavit filed for the IRP questions have been raised to certain transactions undertaken after the moratorium which however is not accepted by the appellant. It is not necessary for this court in these proceedings to express any opinion with regard to the nature of transaction and the contention of the both the parties can be undertaken and considered by the Adjudicating Authority on an appropriate application to be filed by the IRP/ RP.
We make it clear that disposal of this appeal by our order dated 28.02.2024 may not be a reason not to consider the issues raised as noted above, with regards to certain transaction including payments made under the settlement.
With the above observations, application is disposed of.