https://www.taxtmi.com/caselaws?id=403123 The Appellate Tribunal upheld the rejection of the Deputy Commissioner of Customs' application for condonation of delay in submitting a claim against 'M/s Jyoti Structures Ltd.' The Tribunal emphasized the binding nature of the Resolution Plan under Section 31(1) of the I&B Code, stating that claims filed post-approval cannot be entertained to ensure certainty for the Resolution Applicant. As the claim was belated and submitted after Plan approval, the rejection was upheld without legal infirmity found. The judgment highlights the importance of timely claim submission and adherence to the Resolution Plan for clarity in the Corporate Insolvency Resolution Process. en-us Tue, 10 Nov 2020 00:00:00 +0530 Wed, 20 Jan 2021 13:52:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403123 The Appellate Tribunal upheld the rejection of the Deputy Commissioner of Customs' application for condonation of delay in submitting a claim against 'M/s Jyoti Structures Ltd.' The Tribunal emphasized the binding nature of the Resolution Plan under Section 31(1) of the I&B Code, stating that claims filed post-approval cannot be entertained to ensure certainty for the Resolution Applicant. As the claim was belated and submitted after Plan approval, the rejection was upheld without legal infirmity found. The judgment highlights the importance of timely claim submission and adherence to the Resolution Plan for clarity in the Corporate Insolvency Resolution Process. Case-Laws Insolvency and Bankruptcy Tue, 10 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403123