https://www.taxtmi.com/caselaws?id=428641 The Tribunal dismissed the application for late claim submission under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, due to a significant delay of over 543 days, impacting the resolution process. The second application regarding resolution plan modification was resolved through a compliance affidavit ensuring payment of due amounts, leading to its disposal. The Tribunal emphasized the importance of timely claim submissions and finalizing all claims before approving a resolution plan to uphold the IBC's objectives and ensure a successful resolution process. en-us Mon, 12 Sep 2022 00:00:00 +0530 Fri, 07 Oct 2022 13:09:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428641 The Tribunal dismissed the application for late claim submission under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, due to a significant delay of over 543 days, impacting the resolution process. The second application regarding resolution plan modification was resolved through a compliance affidavit ensuring payment of due amounts, leading to its disposal. The Tribunal emphasized the importance of timely claim submissions and finalizing all claims before approving a resolution plan to uphold the IBC's objectives and ensure a successful resolution process. Case-Laws Insolvency and Bankruptcy Mon, 12 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428641