Is a disputed claim included in the definition of ‘claim’ under Section 3(6) of the Insolvency and Bankruptcy Code, 2016? – Gujarat State Road Development Corporation Vs. Mr. Avil Menezes RP of Valecha Kachchh Toll Roads Ltd. and Ors. – NCLT Mumbai Bench
In this important decision of Hon’ble NCLT Mumbai Bench following issues are clarified:
A. Is disputed claim included in the definition of claim under Section 3(6) of the Insolvency and Bankruptcy Code, 2016.
B. Duty cast upon IRP/RP is not confined to the administrative function of the collection of claims but to verify the claims.
C. A debt not capable of verification by IRP/RP based on the documents cannot be admitted.
D. Does Concession granted by Applicant fall within the definition of operational debt.
E. Treatment of claims and counterclaims under the Resolution Plan.
F. Admission of subsequent claim or modification of claim cannot have the effect of re-running the CIRP de novo.