MUMBAI BENCH, COURT-II

CP (IB) No. 2517(MB) of 2018

Under section 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of

the N.C.L.T. Rules, 2016

IN THE MATTER OF

1. Ms. Sneha Kore, and

2. Mr. Nipun Kore,

Both residing at: Plot No. 1963, 1964, Savitri

Nivas, Nivruti Colony, near Ram mandir,

Kolhapur, Maharashtra-416 113.

... Applicants

V/s.

Mr. Arun Kapoor

Resolution Professional of Monarch

Brookefields LLP

G-601, Army Co-operative Housing Society, Sector- 9, Nerul (East), Navi Mumbai,

Maharashtra - 400706.

… Respondent

IN THE MATTER OF

M/s. Capri Global Capital Ltd.

502, Tower-A, Peninsula Business Park, Senapati Bapat Marg Lower Parel Mumbai,

Maharashtra.

CP (IB) 2517 of 2018 ... Financial Creditor V/s.

M/s. Monarch Brookefields LLP Survey No. 113/O Akurli, Village Panvel, Raigarh, Maharashtra - 410206 … Corporate Debtor Order delivered on: - 24.04.2024.

Coram:

Hon’ble Shri Kuldip Kumar Kareer, Member (Judicial)

Hon’ble Shri Anil Raj Chellan, Member (Technical)

Appearances (Hearing in Hybrid Mode):

For the Applicant (in VC Mode) : CA. Udayraj Patwardhan.

For the Respondent/RP : Counsel Mr. Amir Arsiwala.

ORDER Per: - Coram

1. The present Interlocutory Applicant is filed by the Applicants praying for directions to the Respondent to consider and admit the claim of the Applicants and to set aside the rejection order of the Respondent vide e-mail dated August 28, 2023. The claim of the Applicant that was rejected by the Respondent is INR 93,16,601.92/-, which was filed on August 25, 2023.

2. Brief facts necessary for disposal of the present Application are as follows:

CP (IB) 2517 of 2018 a. Corporate Insolvency Resolution Process (CIRP) against M/s Monarch Brookefileds LLP (the Corporate Debtor) was initiated vide Order of the Tribunal dated 27.09.2019 and Mr. S Gopalakrishnan was appointed as Interim Resolution Professional (IRP).

b. IRP issued a public announcement on 24.11.2019 in Form ‘A’

inviting claim under Regulation 6 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and the last date for submission of claim was 07.12.2019.

c. As per the order of Tribunal dated 03.08.2021, the IRP was replaced and Mr. Arun Kapoor was appointed as Resolution Professional (RP) of the Corporate Debtor. The erstwhile IRP issued a public announcement dated 25.02.2021 for inviting Expression of Interest (EoI) from prospective resolution applicants. After receiving resolution plan from the prospective resolution applicants, two plans were considered and put to vote and the resolution plan submitted by Planet Builders and Developers was unanimously approved by the members of CoC. Hence, the Respondent filed an I.A. No. 70/2022 for approval of a Resolution Plan before the Tribunal. The said Application for approval of Resolution Plan is pending adjudication before this Hon’ble Tribunal.

d. On 25.08.2023, the Applicants filed their proof of claim electronically in Form CA for an outstanding sum of Rs. 93,16,601.92, out of which the principal sum is of Rs. 35,00,000/- arising in respect of the purchase of the Flat (viz. Flat No. 1104, 11^th Floor, Wing-Arizona, in the project known CP (IB) 2517 of 2018 as “Monarch Brookfields”, situated at Plot No. 03, Sector 20, Kalamboli, Navi Mumbai) and the remainder of the claim is in respect of Parking, Maintenance and other charges, compensation and costs as awarded by the Hon’ble Maharashtra Consumer Disputes Redressal Commission vide Order dated September 23, 2019 in Consumer Complaint No. CC/18/837.

e. The Respondent rejected the claim of the Applicant vide E-Mail dated August 28, 2023 on the following terms:

“We refer to your claim submitted to the undersigned vide email dated August 25, 2023.

In view of your claim, we hereby inform you that the Resolution Plan has been approved by members of the Committee of Creditors and the same has been filed by the undersigned before the Hon’ble NCLT, Mumbai Bench on 2 December 2021.

Since the resolution plan has already been filed with the Hon’ble NCLT, we