2023 (4) TMI 172

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....lant has been rejected. The Section 7 application was filed by the Appellant which was admitted vide order dated 18.02.2022. In pursuance of the publication issued by the IRP, claim was filed by the Appellant of Rs.6,52,42,330/-, which was provisionally admitted by the IRP on 18.03.2022. Subsequently, after verification, the RP has reduced the claim amount of the Appellant to Rs.3,16,90,306/-. Aggrieved by the reduction of the claim amount, an application was filed by the Appellant before the Adjudicating Authority, which has been rejected by the impugned order. 2. Shri Srinivasan, learned counsel for the Appellant challenging the order contends that the Resolution Professional has no jurisdiction to change/reduce the claim amount after he....

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....rest at the rate of 19% per annum from 16.08.2017 till realization. The award has not been challenged at any forum till date and appears to have attained finality considering the fact that the period of limitation to challenge the award by either of the parties has already expired. The IRP has calculated the interest on the principle amount of Rs.1,35,35,777/- as awarded in the award therefore, in our considered view, the claim of the applicant has been rightly calculated for the purposes of determining the voting rights of the applicant and no legality or infirmities seems to have been committed by the IRP while doing so. Even otherwise as per Regulation 14(2) of CIRP Regulations 2016, the Resolution Professional has right to revise the am....