https://www.taxtmi.com/caselaws?id=402914 A belated operational creditor claim in CIRP need not be entertained where the claimant fails to justify the delay and the insolvency process has already substantially progressed. The record showed that public announcement had been issued in multiple newspapers and claims from other operational creditors and government authorities were received, so the plea of lack of knowledge was rejected. Given the time-bound nature of corporate insolvency resolution, the request to condone delay and compel admission of the claim was found unmeritorious. The delay was not condoned and the claim was not directed to be admitted, leaving the resolution professional's refusal undisturbed. 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 A belated operational creditor claim in CIRP need not be entertained where the claimant fails to justify the delay and the insolvency process has already substantially progressed. The record showed that public announcement had been issued in multiple newspapers and claims from other operational creditors and government authorities were received, so the plea of lack of knowledge was rejected. Given the time-bound nature of corporate insolvency resolution, the request to condone delay and compel admission of the claim was found unmeritorious. The delay was not condoned and the claim was not directed to be admitted, leaving the resolution professional's refusal undisturbed. Case-Laws Insolvency and Bankruptcy Mon, 03 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402914