https://www.taxtmi.com/caselaws?id=406828 A belated claim filed after commencement of liquidation was not entitled to admission outside the statutory claims process under the Insolvency and Bankruptcy Code and the Liquidation Process Regulations. The liquidator must verify claims within the prescribed framework and record reasons for any rejection, subject to appeal, but a stale claim cannot be compelled to be entertained where no explanation for delay is given. The time-bound nature of liquidation also justified refusal to keep the process open for indefinitely delayed claims. The request to interfere with the liquidation process was therefore rejected. en-us Thu, 08 Apr 2021 00:00:00 +0530 Sat, 24 Apr 2021 09:36:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406828 A belated claim filed after commencement of liquidation was not entitled to admission outside the statutory claims process under the Insolvency and Bankruptcy Code and the Liquidation Process Regulations. The liquidator must verify claims within the prescribed framework and record reasons for any rejection, subject to appeal, but a stale claim cannot be compelled to be entertained where no explanation for delay is given. The time-bound nature of liquidation also justified refusal to keep the process open for indefinitely delayed claims. The request to interfere with the liquidation process was therefore rejected. Case-Laws Companies Law Thu, 08 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406828