Belated insolvency claim rejected for lack of proof and unverifiable dues under the CIRP claims process.

An operational creditor's claim in CIRP was rejected because it was filed belatedly, lacked supporting proof, and could not be verified against the corporate debtor's records. The Resolution Professional had sought further particulars to test the invoices, claimed interest, and outstanding dues, but no effective response or corroborating material was produced. In the absence of documents showing that the claim could be reconciled with the books of account, admission was refused. The appellate challenge failed because it did not dislodge the factual basis for rejection or establish compliance with the requirements for submission, verification, and admission of claims within the prescribed insolvency timeline.

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Issues: Whether the rejection of the operational creditor's claim in the corporate insolvency resolution process was justified on the ground that the claim was belated, unsupported by sufficient proof, and not verifiable against the corporate debtor's records.

Analysis: The claim was submitted after the public announcement and after the claims process had progressed to the stage where the resolution plan was already under consideration. The Resolution Professional sought additional particulars to verify the invoices, the alleged interest component, and the claimed dues, but no effective response or supporting material was furnished. In the absence of substantiating documents and any material showing that the claim could be collated with the books of account of the corporate debtor, the claim could not be admitted. The appellate challenge also failed to controvert the factual basis for rejection or to show that the claim satisfied the requirements governing submission, verification, and admission of claims within the prescribed timeline under the insolvency regulations.

Conclusion: The rejection of the claim was held to be lawful and the challenge to that rejection failed.

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