https://www.taxtmi.com/caselaws?id=441432 The NCLAT upheld the NCLT's decision to reject a belatedly filed claim in insolvency proceedings due to the disposal of the subject matter and creation of third party rights. Emphasizing the importance of timely claims under the IBC for efficient resolution, the court dismissed the appellant's plea for condonation of delay. The appeal was disposed of, reinforcing the necessity of adhering to the time-bound nature of insolvency proceedings to achieve the objectives of the Insolvency and Bankruptcy Code, 2016. en-us Wed, 05 Jul 2023 00:00:00 +0530 Wed, 09 Aug 2023 07:28:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441432 The NCLAT upheld the NCLT's decision to reject a belatedly filed claim in insolvency proceedings due to the disposal of the subject matter and creation of third party rights. Emphasizing the importance of timely claims under the IBC for efficient resolution, the court dismissed the appellant's plea for condonation of delay. The appeal was disposed of, reinforcing the necessity of adhering to the time-bound nature of insolvency proceedings to achieve the objectives of the Insolvency and Bankruptcy Code, 2016. Case-Laws Insolvency and Bankruptcy Wed, 05 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441432