{"id":220892,"date":"2019-10-16T09:30:11","date_gmt":"2019-10-16T04:00:11","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=220892"},"modified":"2019-12-26T17:28:16","modified_gmt":"2019-12-26T11:58:16","slug":"nclat-resolution-professional-has-no-jurisdiction-to-determine-the-claim-filed-by-financial-creditor-he-can-only-collate-the-claim","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/16\/nclat-resolution-professional-has-no-jurisdiction-to-determine-the-claim-filed-by-financial-creditor-he-can-only-collate-the-claim\/","title":{"rendered":"NCLAT | Resolution Professional has no jurisdiction to “determine” the claim filed by Financial Creditor, he can only “collate” the claim"},"content":{"rendered":"

National Company Appellate Tribunal (NCLAT):\u00a0<\/strong>A Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice A.I.S Cheema, Member (Judicial) and Kanthi Narahari, Member (Technical) dismissed an appeal filed by the Resolution Professional of PRC International Hotels (P) Ltd. against the decision of the National Company Law Tribunal, Chennai whereby it had accepted the claim of the Financial Creditor in its entirety.<\/p>\n

Initially, the Resolution Professional, S. Rajendran, collated the claim of the Financial Creditor\u00a0and held that the claimed amount as “Nil”. Against such determination, the Financial Creditor filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, before the National Company Law Tribunal, Chennai. The NCLT, after considering the records and notice to the Resolution Professional, accepted the total claim of the Financial Creditor. Aggrieved thereby, the Resolution Professional filed by the instant appeal.<\/p>\n

The Appellate Tribunal was of the opinion: “the \u2018Resolution Professional\u2019 had no jurisdiction to \u201cdetermine\u201d the claim as pleaded in the Appeal. He could have only \u201ccollated\u201d the claim, based on evidence and the record of the \u2018Corporate Debtor\u2019 or as filed by Jonathan Mouralidarane (\u2018Financial Creditor\u2019). If an aggrieved person thereof moves before the Adjudicating Authority and the Adjudicating Authority after going through all the records, comes to a definite conclusion that certain claimed amount\u00a0is payable, the \u2018Resolution Professional\u2019 should not have moved in Appeal, as in any manner, he will not be affected.”<\/strong><\/p>\n

In such view of the matter, the Appellate Tribunal dismissed the instant appeal filed by the Resolution Professional. It was also stated that the Appellate Tribunal was inclined to impose costs, but on request of counsel for the Resolution Professional, no costs were imposed. [S. Rajendran v. Jonathan Mouralidarane, 2019 SCC OnLine NCLAT 758<\/b><\/a>, decided on 01-10-2019]<\/p>\n","protected":false},"excerpt":{"rendered":"

National Company Appellate Tribunal (NCLAT):\u00a0A Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice A.I.S Cheema, Member (Judicial) and Kanthi Narahari, Member (Technical) <\/p>\n","protected":false},"author":8808,"featured_media":153604,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[37934,37935],"class_list":["post-220892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-resolution-professionals-jurisdiction","tag-section-605-of-insolvency-and-bankruptcy-code"],"yoast_head":"\nNCLAT | Resolution Professional has no jurisdiction to "determine" the claim filed by Financial Creditor, he can only "collate" the claim | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/16\/nclat-resolution-professional-has-no-jurisdiction-to-determine-the-claim-filed-by-financial-creditor-he-can-only-collate-the-claim\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NCLAT | Resolution Professional has no jurisdiction to "determine" the claim filed by Financial Creditor, he can only "collate" the claim\" \/>\n<meta property=\"og:description\" content=\"National Company Appellate Tribunal (NCLAT):\u00a0A Bench of Justice S.J. 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Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial)\u00a0 dismissed an appeal filed against the order of the National Company Law Tribunal, Chennai whereby the application filed by the Financial Creditor under Section 7 of the Insolvency\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":226105,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/02\/24\/nclat-notice-issued-to-financial-creditor-for-failing-to-reach-settlement-despite-accepting-settlement-amount-filing-of-s-7-ibc-application-with-malicious-intent-to-be-considered\/","url_meta":{"origin":220892,"position":2},"title":"NCLAT | Notice issued to Financial Creditor for failing to reach settlement despite accepting settlement amount; filing of S. 7 IBC application with malicious intent to be considered","author":"Bhumika Indulia","date":"February 24, 2020","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT): The Coram comprising of Justice S.J. Mukhopadhaya, Chairperson and Alok Srivastava, Member (Technical), while deciding an appeal filed against Bank of India, stated that, \u201cBank of India once accepted amount is expected to reach a settlement, failing which the question, whether application under Section\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":211074,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/02\/28\/nclat-bhels-claim-of-over-rs-977-crores-in-insolvency-process-against-monnet-power-to-be-reconsidered\/","url_meta":{"origin":220892,"position":3},"title":"NCLAT | BHEL’s claim of over Rs 977 crores in insolvency process against Monnet Power to be reconsidered","author":"Bhumika Indulia","date":"February 28, 2019","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT):\u00a0Justice S.J. Mukhopadhaya, Chairperson dismissed an appeal against the order of National Company Law Tribunal, Mumbai filed by Navneet Kumar Gupta, Resolution Professional of Monnet Power Co. Ltd. In the Corporate Insolvency Resolution Process against Monnet Power (corporate debtor), the respondent Bharat Heavy Electricals Ltd.\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":200221,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/08\/17\/i-insolvency-resolution-process-cannot-be-defeated-by-taking-resort-to-internal-dispute-nclat\/","url_meta":{"origin":220892,"position":4},"title":"I&B Code overrides Companies Act; Insolvency Resolution Process cannot be defeated by taking resort to internal dispute: NCLAT","author":"Bhumika Indulia","date":"August 17, 2018","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT): A two-member bench comprising of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial) dismissed an appeal filed by the Corporate Debtor against the initiation of Insolvency Resolution Process. The Financial Creditor had granted a loan of Rs 1.02 crores to the\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":208270,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/","url_meta":{"origin":220892,"position":5},"title":"NCLAT | Nobody except Financial Creditor has right to claim hearing at stage of admission of application under Section 7 I&B Code","author":"Bhumika Indulia","date":"January 17, 2019","format":false,"excerpt":"National Company Law Appellate Tribunal:\u00a0The Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial) disposed of an appeal filed by the workers\/employees of Tantia Constructions Ltd. (Corporate Debtor). The appellants were the workers\/employees of the Corporate Debtor. State Bank of India (Financial Creditor) had filed an\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/220892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=220892"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/220892\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/153604"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=220892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=220892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=220892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}