https://www.taxtmi.com/caselaws?id=406506 Late financial stakeholder claims in liquidation may be considered in the interest of justice where eligible, but no further delayed claims should be entertained. The liquidation process requires timely completion, with the Liquidator expected to convene the Stakeholders' Consultation Committee, distribute assets according to the statutory waterfall, and seek dissolution after completing required steps. COVID-19 lockdown disruptions do not by themselves justify prolonged delay where the timeline does not support that explanation. Unclaimed liquidation proceeds and undistributed assets must be transferred to the Companies Liquidation Account before dissolution, ensuring closure while protecting stakeholder interests. en-us Mon, 08 Feb 2021 00:00:00 +0530 Fri, 16 Apr 2021 08:55:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406506 Late financial stakeholder claims in liquidation may be considered in the interest of justice where eligible, but no further delayed claims should be entertained. The liquidation process requires timely completion, with the Liquidator expected to convene the Stakeholders' Consultation Committee, distribute assets according to the statutory waterfall, and seek dissolution after completing required steps. COVID-19 lockdown disruptions do not by themselves justify prolonged delay where the timeline does not support that explanation. Unclaimed liquidation proceeds and undistributed assets must be transferred to the Companies Liquidation Account before dissolution, ensuring closure while protecting stakeholder interests. Case-Laws Insolvency and Bankruptcy Mon, 08 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406506