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Judgment
Heard learned counsel for the parties. This Appeal has been filed against order dated 24.02.2020 passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, Kolkata approving the Resolution Plan filed by the Successful Resolution Applicant.
Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor by order dated 13.03.2019. The Appellant before us had filed a claim before the Resolution Professional, which claim was rejected and communicated by email dated 02.07.2019 to the Appellant. Subsequently, the Resolution Plan came in the CIRP which was approved by the CoC in February, 2020 and consequently, the Adjudicating Authority has also approved the Resolution Plan on 24.02.2020. Appellant aggrieved by the order of the Adjudicating Authority has filed this Appeal.
Learned counsel for the Appellant submits that after receipt of one line email from the Resolution Professional rejecting its claim, the Appellant submitted detailed facts and figures and asked for detailed reasons for rejection. It is submitted that Appellant has also filed caveat before the Adjudicating Authority.
We have considered submissions of learned counsel for the Appellant and perused the record.
The Resolution Professional vide its communication dated 02.07.2019 stated:
“This is to inform you that Resolution Professional has verified your claim based on the records available with Corporate Debtor & supporting document provided by you. Based on such verification, out of the total claim amount filed in Form B, the Resolution Professional has admitted NIL amount.”
When the claim application of the Appellant was rejected by the Resolution Professional, the course open for the Appellant was to approach the Adjudicating Authority by filing an appropriate application seeking for direction for admission of its claim. The said course was not adopted by the Appellant and in the meantime Resolution Plan was approved by the Adjudicating Authority by order dated 24.02.2020. Learned counsel for the Respondent submits that the plan has already been implemented. The Appeal has been filed in May, 2022. We are of the view that there is no infirmity which may warrant us to interfere with the impugned order in our Appellate jurisdiction. There is no error in the order passed by the Adjudicating Authority approving the Resolution Plan. Appeal is dismissed.