Belated insolvency claim rejected where deemed knowledge and finality of the resolution process barred admission after plan approval.

A claim lodged more than 500 days after approval of the resolution plan could not be admitted by condoning delay. Under the Insolvency and Bankruptcy Code's time-bound framework, the public announcement in the CIRP under Section 15 and Regulation 6 gives deemed knowledge to stakeholders, so a belated claimant cannot reopen a concluded resolution process. The late filing was therefore not capable of being entertained, and the challenge to rejection of the claim failed.

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Issues: Whether a claim lodged long after the last date for submission and after approval of the resolution plan could be directed to be admitted by condoning delay.

Analysis: The claim was filed more than 500 days after the resolution plan had been approved by the Committee of Creditors. The Insolvency and Bankruptcy Code proceeds on a time-bound framework, and public announcement of the CIRP under Section 15 of the Code and Regulation 6 of the Regulations constitutes deemed knowledge. In light of the settled principle that belated claims cannot reopen a concluded resolution process, the delay could not justify admission of the claim at such a late stage.

Conclusion: The belated claim was not liable to be admitted, and the challenge to its rejection failed.

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