https://www.taxtmi.com/caselaws?id=300797 A claim rejected during CIRP cannot ordinarily be reopened in liquidation unless supported by a new development, and the proper remedy is to challenge the rejection within the prescribed time under the Code. Liquidation is treated as a later stage of insolvency, not an to revive an already rejected claim. The document also states that a lender which disbursed funds to homebuyers, rather than directly to the corporate debtor, cannot assert a duplicate financial claim against the corporate debtor in liquidation or claim status as a secured financial creditor, especially where the allottees' claims have already been admitted. en-us Fri, 05 Feb 2021 00:00:00 +0530 Thu, 24 Feb 2022 21:26:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300797 A claim rejected during CIRP cannot ordinarily be reopened in liquidation unless supported by a new development, and the proper remedy is to challenge the rejection within the prescribed time under the Code. Liquidation is treated as a later stage of insolvency, not an to revive an already rejected claim. The document also states that a lender which disbursed funds to homebuyers, rather than directly to the corporate debtor, cannot assert a duplicate financial claim against the corporate debtor in liquidation or claim status as a secured financial creditor, especially where the allottees' claims have already been admitted. Case-Laws Insolvency and Bankruptcy Fri, 05 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300797