Liquidation claim delay cannot be condoned where statutory timelines are missed and the claimant knew of the process.

Claims in liquidation must be filed in the prescribed manner and within the statutory framework, and the liquidator is required to verify and decide them within the Code's timelines. A claimant who submits a claim long after commencement of liquidation and public announcement, despite knowledge of the process, cannot seek acceptance on equitable grounds alone. The time-bound nature of liquidation and the limitation period for challenging rejection under the Code bar indulgence beyond the prescribed deadlines. The delay was held not condonable, and the request to direct the liquidator to admit the claim was rejected.

---

---

Issues: Whether the delay in filing the claim before the liquidator could be condoned and the liquidator could be directed to accept the claim.

Analysis: The claim was filed long after the commencement of liquidation and after public announcement, despite the applicant being aware of the liquidation. The insolvency framework requires claims to be submitted in the prescribed manner, the liquidator to verify and decide them within the statutory timeline, and an appeal under the Code against rejection within the stipulated period. Liquidation is a time-bound process, and the law does not permit indulgence contrary to limitation merely on equitable considerations.

Conclusion: The delay was not condonable and the application seeking acceptance of the claim was rejected.

---