https://www.taxtmi.com/caselaws?id=408386 The Tribunal dismissed the application by the financial creditor seeking consideration of a delayed claim submission, citing reasons including health issues and the COVID-19 pandemic. Despite acknowledging the lockdown's impact, the Tribunal found the delay unjustified as the creditor was aware of the insolvency proceedings before filing the claim. Emphasizing the time-bound nature of the Corporate Insolvency Resolution Process (CIRP), the Tribunal refused to allow the claim, stating it would disrupt the process and set an unfavorable precedent for late submissions, ultimately directing the dismissal of the application. en-us Mon, 31 May 2021 00:00:00 +0530 Wed, 09 Jun 2021 09:25:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408386 The Tribunal dismissed the application by the financial creditor seeking consideration of a delayed claim submission, citing reasons including health issues and the COVID-19 pandemic. Despite acknowledging the lockdown's impact, the Tribunal found the delay unjustified as the creditor was aware of the insolvency proceedings before filing the claim. Emphasizing the time-bound nature of the Corporate Insolvency Resolution Process (CIRP), the Tribunal refused to allow the claim, stating it would disrupt the process and set an unfavorable precedent for late submissions, ultimately directing the dismissal of the application. Case-Laws Insolvency and Bankruptcy Mon, 31 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408386