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of <h1>New SOP for NCLT Cases: GST and Customs Authorities Must File Claims Within 90 Days to Avoid Extinguishment.</h1> The circular outlines a Standard Operating Procedure (SOP) for handling National Company Law Tribunal (NCLT) cases under the Insolvency and Bankruptcy Code (IBC), 2016, emphasizing the role of GST and Customs authorities as operational creditors. It highlights delays in claim submissions by these authorities, leading to claims being extinguished once a resolution plan is approved. To address this, a Nodal Officer is appointed to ensure timely filing of claims within 90 days of the insolvency commencement date. The SOP includes guidelines for communication, claim filing, and monitoring, with a monthly reporting system to track progress and actions taken.
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