TaxTMI 
TaxTMI 
2022 (4) TMI 940
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....ator on 27.09.2020 and accept the claim of the Applicant; and ii. To grant such further reliefs which this Hon'ble Tribunal may deem fit and proper in the circumstance of this case and in the interest of justice and thus render justice. 2. The Learned Counsel for the Applicant submitted that the Corporate Debtor viz., M/s. Nathella Sampath Jewellery Private Limited (under liquidation) had advertised their gold scheme through televisions and social media's as well as through their regular customers. Believing the said scheme to be true, the Applicant had joined a "Nathella Double Protection-Zero % Jewelry Purchase Plan-Group-PUND P. 1401" on 06.11.2016, and was regularly paying a sum of Rs. 5,000/- (Rupees Five Thousand O....
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....Debtor) for which the undersigned person is the liquidator. From the claim documents, it was observed that, the scheme/claim pertains to Nathella Sampath Chetty & Co., hence requested to approach the said concern". 7. The Learned Counsel for the Applicant further submits that, having left with no other option the Applicant is constrained to approach this Adjudicating Authority challenging the rejection of the claim by the liquidator herein. 8. The Learned Counsel for the Respondent by way of a Counter has submitted that the application is not maintainable in law nor in facts whereas the applicant's claim is pertaining to the other group concern of the Corporate Debtor i.e. "Nathella Sampathu Chetty & Co.," a Partnership Firm but w....
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....ugh statement dated 27.09.2020, as per sections 38, 39, 40 and 41 of the Insolvency and Bankruptcy Code 2016 read with regulations 16 to 30 of the IBBI (Liquidation Process) Regulations 2016 with clearly mentioning the reasons for rejection that "The claimed amount not appeared in the books of Nathella Sampath Jewelry Private Limited (Corporate Debtor) for which the undersigned is the liquidator. From the claim documents, it was observed that, it pertains to Nathella Sampathu Chetty & Co., hence requested to approach the said concern". 11. The Learned Counsel for the Respondent submits that, from the extract of list of chit subscribers of the Partnership Firm "Nathella Sampathu Chetty & Co." produced by the Suspended Directors of the CD,....
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.... information regarding the said partnership firm "Nathella Sampathu Chetty & Co" had sought information from the suspended directors of the Corporate Debtor. From which he has come to know that Mr. Nathella Prapanna Kumar, one of the suspended Directors and a partner of the said partnership firm had shared certain documents that demonstrate that the said partnership firm continues to be in existence and is different from the Corporate Debtor. 15. The Learned Counsel for the Respondent further submits that the Respondent deems it necessary and pertinent to submit that out of 1089 claims processed by the Respondent Liquidator, 444 claims were pertaining to the said partnership firm and they were all uniformly rejected communicating the sam....