ORDER

Per: BENCH

1) This instant application is filed by the liquidator of Deepak Cables (India) Ltd., under Section 33(5) of the Insolvency and Bankruptcy Code, 2016 (“IBC”) read with Rule 11 and 13 if the NCLT Rules seeking a permission from this Tribunal to initiate appropriate legal proceeding against the respondent either by way of arbitration or any other appropriate legal proceeding and a direction to refer the dispute in relation to 163 projects to Arbitration.

2) On the perusal of the incumbent application, the following facts are relevant to the issue in question and is produced herein:

(a) Vide order dated 23.08.2018 passed by this Tribunal, the corporate debtor i.e., Deepak Cables (India) Ltd, was admitted to corporate insolvency resolution proceedings as per Section 7 of the IBC. Thereafter, this Tribunal in IA No. 270 of 2019 vide order dt.04.07.2019 appointed the applicant i.e. Mr. Ravindra Beleyur as the liquidator of CD, while ordering for the liquidation of the CD.

(b) The applicant made a public announcement on 12.07.2019 to invite the claims from stakeholders setting the last date for submissions of claims as 3.08.2019. Thereafter, a committee of stakeholders was set out according to regulation 31A which was filed before this Tribunal on 20.09.2019.

(c) It is submitted that the CD as a contractorentered into 163 different purchase agreements with the respondent M/s Karnataka Power Transmission Corporation Limited (“KPTCL), a wholly owned undertaking of Government of Karnataka,for supplying and laying of underground cables for transmission of electricity and construction of electricity substations and transmission lines as a part of different projects operating within the State of Karnataka. KPTCL being a wholly owned undertaking of the Government of Karnataka is a licensee of transmission of electricity having its electricity substations and transmission lines spread across the state according to the provisions of the Electricity Act, 2003. The purchase orders were governed exclusively by the terms and conditions of the contract.

(d) It is submitted that the respondent originally submitted its claim for Rs. 179.78 crores vide its letter dt. 07.08.2019 with the Registrar. The claims were related to liquidated damages and penalties for delay in completion of the project on the part of the CD. However, due to the delay in submission of the claim, the liquidator/applicant rejected the claim of the respondent, due to which the Respondent approached this Tribunal seeking condonation of delay in filing claim petition which was allowed vide order dt.23.10.2019 in I.A. No. 424 of 2019.

(e) Pursuant to the order of this Tribunal dt.23.10.2019 in the above- mentioned I.A., the Respondent submitted the claim to the liquidator. However, the applicant/liquidator has rejected the claims of the respondent on account of non-compliance of the various queries raised by the liquidator at the time of the admission of claim along with the objection that such a claim does not fall into the purview of operational debt. Thus, the liquidator/applicant initially passed interim orders and subsequently vide a final order dt.09.03.2021 the liquidator rejected the claims of the respondent.

(f) The Respondent in pursuance of rejection of claims challenged the decision of the liquidator and filed an application i.e., I.A. 111 of 2021 in this Tribunal against the rejection of claim which is pending adjudication.

(g) Additionally, the applicant has also issued 149 demand notices calling upon the respondent to pay the amounts determined by the applicant/liquidator in terms of Regulation 35 read with Regulation 23 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations. However, the respondent in its reply to the demand notices has stated that the amounts claimed by the applicants are (a) barred by limitation or (b) not determined to be adjudicated in the manner known to law; (c) the Applicant cannot be a judge of his own case.

(h)