https://www.taxtmi.com/caselaws?id=406827 The Tribunal dismissed the Application seeking to condone a 725-day delay in submitting a claim to the Liquidator for an amount of Rs. 20,41,035. The Liquidator rejected the claim due to the delay, emphasizing the time-bound nature of the liquidation process and the mandatory requirement of filing claims. The Tribunal highlighted the Liquidator's duty to promptly verify claims, noted the Applicant's failure to submit the claim during liquidation proceedings, and emphasized the need to adhere to approved schemes and limitation periods. The Application was dismissed without costs, in line with the strict timelines mandated by the Insolvency and Bankruptcy Code. en-us Thu, 08 Apr 2021 00:00:00 +0530 Sat, 24 Apr 2021 09:36:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406827 The Tribunal dismissed the Application seeking to condone a 725-day delay in submitting a claim to the Liquidator for an amount of Rs. 20,41,035. The Liquidator rejected the claim due to the delay, emphasizing the time-bound nature of the liquidation process and the mandatory requirement of filing claims. The Tribunal highlighted the Liquidator's duty to promptly verify claims, noted the Applicant's failure to submit the claim during liquidation proceedings, and emphasized the need to adhere to approved schemes and limitation periods. The Application was dismissed without costs, in line with the strict timelines mandated by the Insolvency and Bankruptcy Code. Case-Laws Insolvency and Bankruptcy Thu, 08 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406827