2020 (10) TMI 216

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....ellant : Naresh Kumar Sargam For the Respondent : G. Bhupesh Advocates ORDER Ratakonda Murali, Member ( J ) 1. The present application is filed seeking a direction to admit the claim of the applicant submitted to the Liquidator in its entirety. 2. AVERMENTS IN THE APPLICATION: 2.1 It is averred in para 5 of the application that SREI Equipment Finance Ltd. has initiated proceedings under sect....

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....pplicant sustained financial losses due to the failures/breach of contract by the corporate debtor. 2.3 The work done by the applicant under the MoU to the corporate debtor is valued at Rs. 11,79,13,030/-, out of which an amount of Rs. 70,39,238/- remained due and unpaid by the corporate debtor. Interest thereon would be Rs. 13,30,276/- as on 31.08.2019, totaling to Rs. 83,78,514/-. Besides, an a....

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....applicant vide e-mail dated 17.10.2019 that since the claim is time barred the applicant is requited to seek direction from the Tribunal. Ultimately, the claim is rejected vide e-mail dated 07.11.2019. 3.2 It is further stated in paras 5, 6 and 7 of the reply that the Liquidator has no power to condone the delay, as such the claim has been rejected rightly. 3.3 In para 8 of the reply, the Liquid....

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....eyond the period prescribed in the announcement and as such it cannot be admitted. 5. Admittedly, the applicant had not submitted the claim on merits. We are aware, it is for the Liquidator to decide on merits whether the claim of the applicant to be admitted or rejected. We only direct the Liquidator to examine the claim of the applicant on its merits and could decide whether to admit or reject.....