https://www.taxtmi.com/caselaws?id=408708 The Adjudicating Authority dismissed the Applicant's claim for condonation of a 217-day delay in filing a claim before the Resolution Professional. The decision was based on the lack of a valid reason for the delay, the disputed nature of the quantified amount, and the pending Resolution Plan approval. The Authority emphasized the importance of timely claim submission in insolvency proceedings and highlighted the evolving interpretation of regulations regarding condonation of delays, underscoring the need for creditors to adhere to prescribed timelines and provide justifiable reasons for any delays in filing claims. en-us Thu, 10 Jun 2021 00:00:00 +0530 Sat, 19 Jun 2021 10:18:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408708 The Adjudicating Authority dismissed the Applicant's claim for condonation of a 217-day delay in filing a claim before the Resolution Professional. The decision was based on the lack of a valid reason for the delay, the disputed nature of the quantified amount, and the pending Resolution Plan approval. The Authority emphasized the importance of timely claim submission in insolvency proceedings and highlighted the evolving interpretation of regulations regarding condonation of delays, underscoring the need for creditors to adhere to prescribed timelines and provide justifiable reasons for any delays in filing claims. Case-Laws Insolvency and Bankruptcy Thu, 10 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408708