Whether a Resolution Professional can keep a claim in abeyance on the basis that Arbitration Proceedings are pending, wherein, the counterclaim of the Corporate Debtor is pending for determination – Anheuser Busch Inbev India Ltd. Vs. Mr. Pradeep Kumar Sravanam RP East Godavari Breweries Pvt. Ltd. – NCLAT Chennai
June 13, 2023
In this case, the Appellant is a Financial Creditor who furnished its claim before the Resolution Professional and the same was kept in abeyance by the Resolution Professional, on the basis that Arbitration Proceedings are pending, wherein, the counterclaim of the Corporate Debtor is pending determination.
NCLAT held that in the instant case, the very fact that the Appellant’s claim cannot be admitted till the counterclaim of the Corporate Debtor is determined which may end in set off of the sum payable to the Appellant / Petitioner, the plea of the Resolution Professional cannot be brushed aside and in an emergency and also when a situation arises, the Resolution Professional is within his power and limit to keep the claims in abeyance for plurality of reasons.