https://www.taxtmi.com/caselaws?id=313671 The NCLAT dismissed an appeal where the appellant sought to submit a claim after the deadline. The Adjudicating Authority had rejected the request citing delay. The NCLAT upheld this decision, referencing SC precedent in RPS Infrastructure Ltd that prevents endless CIRP processes through repeated plan modifications. The tribunal noted that allowing late claims would reopen issues and encourage similar delayed submissions from other parties, making the insolvency process indefinite. The appeal was found to lack merit and was dismissed. en-us Fri, 15 Sep 2023 00:00:00 +0530 Sat, 27 Apr 2024 15:10:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313671 The NCLAT dismissed an appeal where the appellant sought to submit a claim after the deadline. The Adjudicating Authority had rejected the request citing delay. The NCLAT upheld this decision, referencing SC precedent in RPS Infrastructure Ltd that prevents endless CIRP processes through repeated plan modifications. The tribunal noted that allowing late claims would reopen issues and encourage similar delayed submissions from other parties, making the insolvency process indefinite. The appeal was found to lack merit and was dismissed. Case-Laws Insolvency and Bankruptcy Fri, 15 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313671