M/s. Geotrix Building Envelope Private Limited vs C. Sanjeevi & Anr.

Comp App (AT) (CH) (Ins) No.373/2022 had been preferred by the Appellant, being aggrieved against the impugned order dated 27.06.2022, that was passed by the Learned NCLT, Division Bench-2, Chennai, in IA(IBC)/417/(CHE)/2022 in IBA/1423/2019.

Brief facts which are to be considered are that Appellant is an Operational Creditor, who had filed its claim before the Resolution Professional, that the Resolution Professional neither accepted nor rejected the claim. As a consequence of which, the Appellant preferred an application in IA No.986/2021 before Learned NCLT seeking issue of direction to Resolution Professional to verify and collate the claim filed by him, and the claim of the Appellant was partially admitted, except for the interest component, which was denied, aggrieved by which the present Appeal has been filed. But be that as it may, during the pendency of the instant Company Appeal, certain new developments have taken place, which have been placed on record by the Learned Counsel for the Appellant by filing a memo dated 24.07.2025, bringing the fact on record that, the liquidation has already been ordered by an order of 16.04.2025 in IA(IBC)/34(CHE)/2025 in CP(IBC)/1423/2019. He has submitted that since the liquidation process has already been commenced, and besides that, since the Appellant has already raised a claim before the liquidator, as of today, nothing survives in the instant Company Appeal because of the subsequent development, which has been placed on record. The Comp App (AT) (CH) ((Ins) No.373/2022 would accordingly stand dismissed as infructuous.

Heard the Learned Counsel for the parties. The Appellant in the instant Company Appeal has challenged the impugned order dated 27.06.2022, that was passed in IA(IBC)/417(CHE)/2022 in IBA/1423/2019, along with IA(IBC)/373(CHE)/2022 in IBA/1423/2019, by virtue of which the Learned Tribunal had approved the Resolution Plan. It has been brought on record by the Learned Counsel for the parties that, since the Corporate Debtor has already been put to liquidation, and the Appellant has already raised his claim before the liquidator, nothing survives to be adjudicated on merits in the instant Company Appeal. Accordingly, the Comp App (AT) (CH) (Ins) No.272/2022 would stand dismissed as having been rendered infructuous.

Heard the Learned Counsel for the parties. The Appellant in the instant Company Appeal challenges the impugned order dated 27.06.2022 that, was passed in IA(IBC)/373(CHE)/2022 in IBA/1423/2019. As a consequence of the impugned order, which is under challenge, the Learned Tribunal, while considering the application that was preferred under Section 60(5) of the I & B Code, 2016, had approved the Resolution Plan. It has already been brought on record by the Learned Counsel for the parties that, since the Corporate Debtor has already been put to liquidation, and the Appellant has admittedly thereafter raised his claim before the liquidator, nothing survives to be adjudicated on merits in the Company Appeal. Accordingly, the Comp App (AT) (CH) (Ins) No.295/2022 would stand dismissed as having been rendered infructuous.