Resolution Professional's claim verification is administrative, not adjudicatory, and a reduced admitted claim was upheld.

In insolvency proceedings, the Resolution Professional's role is limited to collecting, collating and verifying claims on the basis of the record and available information; the function is administrative, not adjudicatory. On that basis, the Tribunal upheld the reduction of the claimant's admitted amount where the materials included the loan documents, the corporate debtor's records and information from the RBI, as well as the arbitral award and related treatment of the security deposit and interest. The claimant was therefore not entitled to restoration of the higher claimed amount, and interference with the claim verification was refused.

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Issues: Whether the Resolution Professional erred in reducing the appellant's admitted claim, and whether the appellant was entitled to restoration of the claim on the basis of the sanction letters and arbitral award.

Analysis: The claim was initially lodged on the basis of the loan documents and was later re-examined during the insolvency process. The Resolution Professional considered the materials placed by the appellant, the corporate debtor and the information received from the RBI, and noted that the arbitral award provided interest at 18% per annum, while the appellant's claim also involved treatment of the security deposit and related interest. The Tribunal held that the Resolution Professional did not adjudicate disputes but only collated and verified the claim on the basis of the available records. The impugned order had also proceeded on the settled principle that the Resolution Professional's function is administrative and not adjudicatory.

Conclusion: The reduction of the claim was not found to be illegal or improper, and the appellant was not entitled to restoration of the higher claimed amount.

Final Conclusion: The challenge to the order rejecting interference with the claim verification failed, and the dismissal of the application was affirmed.

Ratio Decidendi: In insolvency proceedings, the Resolution Professional is required to collect, collate and verify claims on the basis of the record and available information, and does not exercise an adjudicatory function on disputed claim amounts.

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