https://www.taxtmi.com/caselaws?id=304401 A belated claim filed after the last date in the CIRP could not be entertained because the prescribed claims period had already expired before the Supreme Court's COVID-19 limitation suspension began. The time-bound nature of insolvency resolution supported refusal to reopen the claims stage at an advanced point, as doing so would prejudice other creditors and undermine finality in the process. The appellate tribunal therefore upheld rejection of the application and confirmed that the late claim could not be admitted. en-us Mon, 20 Sep 2021 00:00:00 +0530 Mon, 14 Nov 2022 16:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304401 A belated claim filed after the last date in the CIRP could not be entertained because the prescribed claims period had already expired before the Supreme Court's COVID-19 limitation suspension began. The time-bound nature of insolvency resolution supported refusal to reopen the claims stage at an advanced point, as doing so would prejudice other creditors and undermine finality in the process. The appellate tribunal therefore upheld rejection of the application and confirmed that the late claim could not be admitted. Case-Laws Insolvency and Bankruptcy Mon, 20 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304401