https://www.taxtmi.com/caselaws?id=442894 A claim based on an arbitral award was held not admissible when filed 287 days after the public announcement of the corporate insolvency resolution process and only after the committee of creditors had approved the resolution plan. The public announcement was treated as deemed knowledge, and a commercial claimant was expected to stay vigilant about the insolvency process. The Court stressed that insolvency resolution is time-bound and cannot be reopened indefinitely by late claims, as this would undermine finality and prejudice the successful resolution applicant. The challenge to the appellate order therefore failed, and the belated claim was rejected. en-us Mon, 11 Sep 2023 00:00:00 +0530 Sat, 03 May 2025 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442894 A claim based on an arbitral award was held not admissible when filed 287 days after the public announcement of the corporate insolvency resolution process and only after the committee of creditors had approved the resolution plan. The public announcement was treated as deemed knowledge, and a commercial claimant was expected to stay vigilant about the insolvency process. The Court stressed that insolvency resolution is time-bound and cannot be reopened indefinitely by late claims, as this would undermine finality and prejudice the successful resolution applicant. The challenge to the appellate order therefore failed, and the belated claim was rejected. Case-Laws IBC Mon, 11 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442894