Belated liquidation claim rejected where no sufficient cause justified delay in filing before the liquidator.

In liquidation proceedings, a belated claim cannot be entertained unless the claimant shows sufficient cause for the delay. The Tribunal found that the claim was filed after the public announcement deadline and that the explanation of ignorance of the corporate debtor's insolvency and liquidation was not credible. As no sufficient cause was established, condonation of delay was refused, the liquidator's rejection of the claim was upheld, and the appeal failed.

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Issues: Whether the delay in filing the claim before the liquidator in liquidation proceedings should be condoned and the belated claim entertained.

Analysis: The claim was filed after the last date specified in the public announcement for submission of claims in liquidation. The Tribunal noted that the applicant's explanation of ignorance of the corporate debtor's insolvency and liquidation was not credible, especially when the liquidation process is time-bound and claims have to be submitted within the prescribed period. The Tribunal accepted the liquidator's rejection of the belated claim and found no sufficient cause for condonation of delay.

Conclusion: The delay was not liable to be condoned and the rejection of the claim was upheld.

Final Conclusion: The appeal failed and the impugned order dismissing the application was sustained.

Ratio Decidendi: In liquidation proceedings, a belated claim cannot be entertained unless the applicant establishes sufficient cause for the delay; mere assertion of lack of knowledge of the insolvency or liquidation does not justify condonation where the statutory claim period has expired.

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