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Showing contexts for: NTPC Simhadri in Kalpraj Dharamshi Successful ... vs Kotak Investment Advisors Limited on 10 March, 2021Matching Fragments
22. Shri C.A. Sundaram, learned Senior Counsel appearing for Fourth Dimension Solutions Limited, appellant in Civil Appeal D.No.24125 of 2020, which claims to have the highest amount recoverable from the Corporate Debtor submitted, that the said appellant is not concerned with the dispute between the parties, which is the subject matter of consideration in the present appeals. It is further contended, that the appellants’ dues are subject matter of pending arbitration proceeding between the Corporate Debtor and the appellants and is yet to attain finality, so as to liquidate the dues. It is aggrieved by the direction given in paragraph 39 by NCLT in its order dated 28.11.2019 in M.A. No.691 of 2019. The learned Senior Counsel submitted, that by the said direction it is directed, that the Resolution Applicant who stepped into the shoes of Corporate Debtor subsequent to the approval of the Resolution Plan by it, shall not be held responsible for any outstanding statutory dues and other claims for the period before commencement of CIRP. In the submission of Shri Sundaram, this direction is prejudicial to the appellant, which is the largest operational creditor entitled to recover an amount of 551 crores (approx..) from the Corporate Debtor. It is also contended, that the claim of the appellant – Fourth Dimension, though has been shown in the information memorandum by RP, it has not been considered by CoC or any of the applicants in their resolution plan. He relied on the judgment/order dated 16.11.2020 passed by this Court in Civil Appeal No. 2798 of 2020 [NTPC Ltd. (Simhadri Project) vs. Rajiv Chakraborty] SUBMISSION OF SHRI NEERAJ KISHAN KAUL, LEARNED SENIOR COUNSEL APPEARING FOR KIAL