Maturity of any claims arising in future neither being asserted nor made out, apprehensions of the Appellants are unfounded in as-much-as the AA has taken care to direct the RP to incorporate information relating to such claims, even if disputed in the Information Memorandum – NTPC Ltd. (Sipat Project) Vs. Rajiv Chakraborty IRP of Era Infra Engineering Ltd. – NCLAT
NCLAT referring Andhra Bank v. F.M. Hammerle Textile Ltd. held that assailing of the impugned order with prayer to admit the claim of Appellants- ‘Operational Creditors’ cannot be permitted in view of the fact that the ‘Resolution Professional’ is not an Adjudicating Authority who is empowered to admit or reject a claim, his job being confined to collecting and collating of claims and incorporating the same in the Information Memorandum. It is significant to note that unlike a Liquidator empowered as an Adjudicating Authority to determine the claims, the ‘Resolution Professional’ is merely concerned with collecting and collating of claims which in essence means collecting all information in regard to claims as ascertainable from various sources including books of account of the ‘Corporate Debtor’ and Information Utility and other evidence and verifying the same before its incorporation in the Information Memorandum. The Resolution Professional is not an Adjudicating Authority empowered to admit or reject a claim and no mechanism in the nature of an appeal providing against such determination is available within the Resolution Process as is provided in liquidation proceedings under Section 40 of the Insolvency and Bankruptcy Code, 2016. Admission or rejection of a claim can be looked into when Resolution Plan is being considered and when Resolution Professional moves an application under Section 31 before the Adjudicating Authority for approval of the Resolution Plan. It is at that stage that the Adjudicating Authority has to examine whether the interest of all stakeholders has been taken care of. The Judgment of this Appellate Tribunal relied upon by the Appellants has no application as it pertains to claims of ‘Financial Creditors’ maturing in future.
