For non-filing of claim by Management of Claimant/Creditor in a CIRP of the Corporate Debtor, the Resolution Professional of Claimant/Creditor is fully entitled to take appropriate proceedings against the Ex-Management and the benefits of Section 17 of the Limitation Act, 1963 for filing belated claim is not available in case where fraud was played in the Claimant/Creditor Company and not in the Corporate Debtor – Gyan Chandra Misra RP for Three C Green Developers Pvt. Ltd. Vs. Three C Universal Developers Pvt. Ltd. – NCLAT New Delhi
In the facts of the present case, the claim of the Appellant was filed after 14 months from the date when Resolution Plan in the CIRP of the Corporate Debtor was approved by the CoC.
Hon’ble NCLAT held that:
(i) For non-filing of claim by the Management of 3C Green, the Resolution Professional of 3C Green is fully entitled to take appropriate proceedings against the Ex-Management on allegation of fraud of siphoning of money in the CIRP of the 3C Green.
(ii) The benefits of Section 17 of the Limitation Act, 1963 for filing belated claim is not available in case where fraud was played in the Claimant/Creditor Company and not in the Corporate Debtor.
(iii) The present is a case where fraud is being alleged against the Management of 3C Green itself and in which Appellant is Resolution Professional. It is not a case of the Appellant that any fraud was played by the Corporate Debtor in whose CIRP belated claim has been filed by the Appellant, so that claim could not be filed by the Appellant. No fraud is alleged against the Corporate Debtor. Hence, we fail to see as to how the benefit of Section 17 of the Limitation Act can be claimed by the Appellant in the present case.
(iv) Dismissed the appeal.
