https://www.taxtmi.com/caselaws?id=402914 The Tribunal dismissed the application seeking to condone the delay in filing a claim before the Resolution Professional and to direct the admission of the claim under Section 60(5) of the Insolvency and Bankruptcy Code. Despite challenges faced by the applicant, including delays attributed to factors like the COVID-19 pandemic, the Tribunal found the reasons insufficient and emphasized the need for time-bound proceedings. The application was deemed lacking in merits, with the Tribunal highlighting the importance of timely conclusion of proceedings and the priority given to Secured Financial Creditors in settlement matters. en-us Mon, 03 Aug 2020 00:00:00 +0530 Fri, 15 Jan 2021 11:04:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402914 The Tribunal dismissed the application seeking to condone the delay in filing a claim before the Resolution Professional and to direct the admission of the claim under Section 60(5) of the Insolvency and Bankruptcy Code. Despite challenges faced by the applicant, including delays attributed to factors like the COVID-19 pandemic, the Tribunal found the reasons insufficient and emphasized the need for time-bound proceedings. The application was deemed lacking in merits, with the Tribunal highlighting the importance of timely conclusion of proceedings and the priority given to Secured Financial Creditors in settlement matters. Case-Laws Insolvency and Bankruptcy Mon, 03 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402914