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🔎 Case Laws - Adv. Search
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        Insolvency and Bankruptcy

        2020 (10) TMI 492 - Tri - Insolvency and Bankruptcy

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        Revised claim form requirement for additional relinquishment charges upheld, with verification directed before consideration. An additional claim for relinquishment charges was addressed as a separate monetary claim from the amount already admitted in the creditors' list. The ...
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

                            Revised claim form requirement for additional relinquishment charges upheld, with verification directed before consideration.

                            An additional claim for relinquishment charges was addressed as a separate monetary claim from the amount already admitted in the creditors' list. The Resolution Professional had objected because no revised claim form had been filed in the prescribed manner. The Adjudicating Authority treated the issue as one of procedural compliance, holding that the claim could be examined only after the claimant filed a revised form with supporting documents. The applicant was therefore permitted to submit the revised claim for verification, and the Resolution Professional was directed to scrutinise it on the basis of the documents produced.




                            Issues: Whether the applicant's additional claim towards relinquishment charges could be considered and whether the resolution professional should be directed to entertain a revised claim form for verification and consideration.

                            Analysis: The dispute concerned an additional monetary claim arising from relinquishment charges, separate from the claim already admitted in the list of creditors. The Resolution Professional objected on the ground that no claim form had been filed in the prescribed manner for this additional amount. The Adjudicating Authority treated the non-admission as a technical consequence of the absence of a proper revised claim form and noted that the claim could be examined by the Resolution Professional only upon filing and verification of relevant documents. The application was therefore not used to straightaway admit the amount, but to enable the claimant to place the revised claim before the Resolution Professional for due scrutiny.

                            Conclusion: The applicant was permitted to file a revised claim form before the Resolution Professional for consideration, and the Resolution Professional was directed to verify the claim on the basis of supporting documents.


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                            ActsIncome Tax
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