Submission for which there was no foundation in the Application filed under Section 7 or any document filed before the Adjudicating Authority nor any such of submissions was even raised in the grounds of the Appeal, raising submission in Rejoinder-Affidavit is not sufficient – Central Bank of India Vs. Himmat Steel Foundry Ltd. – NCLAT New Delhi

NCLAT held that submission for which there was no foundation in the Application filed under Section 7 or any document filed before the Adjudicating Authority nor any such of submissions was even raised in the grounds of the Appeal, raising submission in Rejoinder-Affidavit and during the course of the submission is not sufficient for consideration in this Appeal. Submission based on Section 25(3) of the Contract Act are submissions which are submissions requiring consideration of facts and evidence and is not a submission which is based on a pure question of law hence we are of the view that such submission of the Appellant based on Section 25(3) needs no consideration in this Appeal.

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If any Public depositor applies showing due of the debt claiming itself as operational creditor and the Resolution Professional or the Tribunal do not accept the claim on the ground that they are not financial creditor, we allow the appellant to raise the question before the Tribunal and if any adverse decision is given by the Tribunal, it will be open to the appellant to raise the issue before NCLAT- Hind Motors India Ltd. Vs. Adjudicating Authority NCLT, Chandigarh – NCLAT New Delhi

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