TaxTMI 
TaxTMI 
2021 (8) TMI 102
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....king directions against the Resolution Professional of M/s. Subhkamana Buildtech Private Limited ("The Respondent") of inter alia for following prayers: i. Pass an order directing resolution professional Mr. Anand Sonbhadra to admit the entire claim filed by the applicant/financial creditor of Rs. 3,93,74,137/- 2. The Corporate Insolvency Resolution Process of M/s. Subhkamana Buildtech Private Limited ("The Corporate Debtor") was initiated vide Order dated 26.11.2018 by this Tribunal. The Interim Resolution Professional namely Mr. Gurkamal Hora Arora, made public announcement for invitation of claims in Form A. 3. The applicant submits that the Corporate Debtor launched two residential project by the name of 'Tee Homes....
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....uthorized representative Mr. Piyush Tiwari entered into a Settlement Agreement with the husband of the Applicant, and agreed to refund Rs. 15,50,00,000/- to the Applicant and her husband. 6. The applicant submits that on 05.01.2019, the IRP issued a Public Announcement in FORM A under Regulation 6 of IBC, asking all the Creditors of the Corporate Debtor to submit their claims with proof on or before 12.01.2019. The Applicant submitted his claim on 26.02.2019 for the Financial Debt of the principal amount of Rs. 13,06,89,850/- alongwith an interest of Rs. 4,65,85,307/-, totaling Rs. 17,72,75,157/-. The details of the financial debt due and payable by the corporate debtor to the applicant is as under: Table A: Details of dishonore....
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....dmission of the claim, the Applicant is being denied the opportunity to become part of COC. 9. The RP has filed a reply and has asserted as follows: i. That the Applicant is a speculative investor who had invested in the residential colony project of the corporate debtor with the anticipation of good returns. That the RP has verified the claim of the Applicant and during the process it has been observed that the claims have been made against those fragments which are not part of the Company assets. Furthermore, the Applicant has not substantiated any adequate proof for the amount claimed. ii. That the RP, after the perusal of the Settlement Agreement between the parties, concluded that the said Agreement doesn't hav....
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....RP, the Applicants could not participate in COC meetings of the Corporate Debtor inspite of being a Financial Creditor as their claim was not admitted. Further, the Applicants had submitted Form for admission of their claims, well before the approval of Resolution Plan. ii. The Applicants state that they are genuine homebuyers who are interested in taking possession of flats for personal use and that is why they had paid the entire purchase consideration in advance. In the Settlement Agreement, the Applicants had agreed to take the allotment of alternative flats in lieu of the flats they had originally booked and did not insist on refund of money. This shows that Applicants are interested in taking actual possession of flats and th....
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....elivery of possession of Flats booked by the Applicant. 11. Heard submissions and perused the documents. We find force in the contentions of the Applicant. It is observed that on 27.10.2019 the resolution plan was approved by the CoC with 87.57% voting share and the applicant has filed Form of the claim on 26.02.2019, which is much prior to the approval of the plan by the CoC. 12. This bench in I.A. 3058/ND/2021, has recorded in their daily order: Mr. Abhishek Anand, Ld. counsel for the RP states that resolution plan is approved by the CoC in the month of October, 2019 but the resolution plan vide its clause 8.6(3) has taken on record of claims of all home buyers who have not filed the claim or filed belatedly and not decided....