TaxTMI 
TaxTMI 
2021 (11) TMI 903
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....read with rule 11 of the National Company Law Tribunal Rules, 2016 and has prayed following reliefs and the same is quoted below : "(a) allow the instant application of the applicant ; (b) issue necessary instructions to the RP to consider the claim without having any regard to the delay ; (c) pass an order to admit the claim of the applicant before RP ; and (d) in the meanwhile, direct the RP not to proceed with the adoption of resolution plan (not been approved till today and the approval of which would render the present application infructuous), without the admission of the instant claim of the applicant as the claim was duly presented before the RP at an appropriate stage which war ranted admission a....
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.... the applicant again on January 3, 2021 requesting for admission of the claim along with the decisions of the National Company Law Tribunal in which amended regulation 12(2) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 has been held to be directory and not mandatory. (x) On behalf of the RP counsel's sent an e-mail dated January 5, 2021 stating that the claim cannot be accepted as it was submitted by delay to RP and already resolution plan was submitted by one resolution applicant to RP which is pending for consideration by the CoC. (xi) Further, the applicant has referred various decisions and the same are quoted below : "In the matter of Twenty First Century Wire Roads ....
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....We have heard learned counsel for the applicant as well as learned counsel for the RP and perused the averments made in the application as well as the decisions upon which the applicant has placed reliance. 4. Learned counsel for the applicant in course of arguments submitted that since the applicant was not aware about the publication made by the IRP. Therefore, the applicant could not file the claim within the time prescribed in the advertisement. 5. He further submitted that thereafter, on March 25, 2020 the lockdown was imposed by the Central Government as well as State Governments and due to this the development was not known to the applicant. 6. He further submitted that the moment the applicant has come to know regarding the....
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....e, prior to this, old regulation 12(2) says that a creditor, who failed to submit proof of claim within the time stipulated in the public announcement, may submit such proof to the interim resolution professional or the resolution professional, as the case may be, till the approval of a resolution plan by the committee. 12. When we read the old and new regulation 12(2) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 then it can be said that prior to the amendment in regulation 12(2), a claim is required to be filed before the IRP or the RP as the case may be, till the approval of a resolution plan by the committee and that is the reason earlier the Co- ordinate Bench has given directions to the RP to c....