Dismissed

In the matter of Gambs India Private Limited I.A. 880 of 2023 in C.P.(Ib) No. 806-MB-2021

NCLT21 Mar 2023

Case brief

AI extract

What is this about?

The Tribunal dismissed an application under Section 60(5) of the Insolvency and Bankruptcy Code seeking admission of a debt. The application became infructuous after the CoC resolved to liquidate the Corporate Debtor. The Applicant was directed to file the claim before the liquidator.

What did the court decide?

The application was dismissed as the Corporate Debtor was ordered to be liquidated. The applicant is allowed to file the claim before the liquidator.

In the matter of Gambs India Private Limited I.A. 880 of… — Insolvency and Bankruptcy | NCLT (2023)

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THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH-IV

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I.A. 880 OF 2023

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Under Section 60(5) of Insolvency & Bankruptcy Code, 2016

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Mr. Mahesh Keswani …Applicant Vs. Mr. Dinesh Kumar Aggarwal … Respondent In the matter of C.P.(IB) No. 806/MB/2021 Amit Punjabi Financial Creditor Vs. GAMBS India Private Limited Corporate Debtor Order delivered on: 21.03.2023 Coram :

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Mr. Prabhat Kumar Mr. Kishore Vemulapalli Hon’ble Member (Technical) Hon’ble Member (Judicial)

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Appearances (via videoconferencing):

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Page 1 of 3

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IN THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH, COURT IV

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I.A. 880 OF 2023 IN CP (IB) 806/C-IV/MB/2021

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For the Applicant : Ms. Jyoti Muley, Advocate For the Applicant/RP : Mr. Manish Jha, Advocate

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ORDER

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Per: Kishore Vemulapalli, Member (Judicial)

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This is an Application filed by Mr. Mahesh Keswani on 27.02.2023 u/s 60 (5) of the Code seeking certain reliefs: -

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a. Allow this interlocutory application;

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b. Direct the Respondent-RP to admit the original claim of the Applicant in sum of Rs.1,18,93,291/- (Rupees One Crore Eighteen Lakhs Ninety-Three Thousand Two Hundred and Ninety-One only) which was earlier admitted by the IRP;

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c. Any other orders as the Hon’ble Bench deems fit.

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The Applicant submits that he has offered a financial help to the Corporate Debtor for Rs.25.00 Lakhs on 15.02.2011 on certain terms and had claimed a sum of Rs. 25,00,000/-, towards principal and interest accrued thereon @ 17% p.a., which has been rejected by the RP, though it was earlier admitted by his predecessor.

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We have heard the counsel and perused the material available on record. We notice that the CoC of the Corporate Debtor has resolved to liquidate the Corporate Debtor and in accordance thereto, the Resolution Professional of the Corporate Debtor has

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Page 2 of 3

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IN THE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH, COURT IV

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I.A. 880 OF 2023 IN CP (IB) 806/C-IV/MB/2021

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filed an application u/s 33 of the Code before this Bench. This Application numbered I.A. 737/2023 was heard and reserved for orders on 02.03.2023 and this Bench has ordered liquidation vide its order dated 21.03.2023.

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In view thereof, the present I.A. becomes infructuous and dismissed accordingly. The Applicant shall be at liberty to file claim before the liquidator, who shall adjudicate the claim of the applicant on its merits.

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Sd/Sd/-

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PRABHAT KUMAR KISHORE VEMULAPALLI Member (Technical) Member (Judicial)

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/NP/

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Page 3 of 3

In the matter of Gambs India Private Limited I.A. 880 of 2023 in C.P.(Ib) No. 806-MB-2021

Case brief

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In the matter of Gambs India Private Limited I.A. 880 of 2023 in C.P.(Ib) No. 806-MB-2021

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