https://www.taxtmi.com/caselaws?id=445217 The Appellate Tribunal dismissed the appeal against the rejection of a claim as a Financial Debt under Section 5(8) of the Code. The Appellant's claim was filed after the approval of the Resolution Plan by the Committee of Creditors on March 30, 2021, which contravened the prescribed timelines under the IBBI Regulations. The Tribunal upheld the Adjudicating Authority's decision, emphasizing that entertaining claims post-approval would disrupt the Corporate Insolvency Resolution Process. The Tribunal found no error in the rejection, as the claim was not reflected in the Corporate Debtor's records, aligning with a recent SC judgment. en-us Wed, 01 Nov 2023 00:00:00 +0530 Thu, 02 Nov 2023 09:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445217 The Appellate Tribunal dismissed the appeal against the rejection of a claim as a Financial Debt under Section 5(8) of the Code. The Appellant's claim was filed after the approval of the Resolution Plan by the Committee of Creditors on March 30, 2021, which contravened the prescribed timelines under the IBBI Regulations. The Tribunal upheld the Adjudicating Authority's decision, emphasizing that entertaining claims post-approval would disrupt the Corporate Insolvency Resolution Process. The Tribunal found no error in the rejection, as the claim was not reflected in the Corporate Debtor's records, aligning with a recent SC judgment. Case-Laws Insolvency and Bankruptcy Wed, 01 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445217