https://www.taxtmi.com/caselaws?id=404967 The Adjudicating Authority rejected the applicant's claim seeking a review of the order under section 60(5) of the Insolvency and Bankruptcy Code, 2016. The Authority found the applicant's lack of knowledge regarding the initiation of Corporate Insolvency Resolution Process (CIRP) implausible, emphasizing the time-bound nature of the insolvency resolution process. The claim was deemed belated as it was filed after the resolution plan was approved, and the Authority highlighted the principle of "caveat emptor," ultimately concluding that the claim was not maintainable. The application was disposed of, affirming the completion of CIRP in a timely manner. en-us Tue, 29 Sep 2020 00:00:00 +0530 Tue, 09 Mar 2021 08:47:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404967 The Adjudicating Authority rejected the applicant's claim seeking a review of the order under section 60(5) of the Insolvency and Bankruptcy Code, 2016. The Authority found the applicant's lack of knowledge regarding the initiation of Corporate Insolvency Resolution Process (CIRP) implausible, emphasizing the time-bound nature of the insolvency resolution process. The claim was deemed belated as it was filed after the resolution plan was approved, and the Authority highlighted the principle of "caveat emptor," ultimately concluding that the claim was not maintainable. The application was disposed of, affirming the completion of CIRP in a timely manner. Case-Laws Insolvency and Bankruptcy Tue, 29 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404967