https://www.taxtmi.com/caselaws?id=751883 The NCLAT dismissed an appeal challenging rejection of a belated claim filed 540 days after the deadline under Section 15 of IBC. The appellant sought admission as a financial creditor after the Committee of Creditors had already approved the resolution plan. The tribunal held that claims filed post-resolution plan approval cannot be entertained, emphasizing IBC's time-bound nature. The appellant failed to prove genuine homebuyer status, filing Form-C instead of Form-CA, with inconsistent unit numbers in documents and no credible evidence of Rs. 50 lakh payment to the corporate debtor. COVID-19 limitation extensions were inapplicable as the deadline expired before March 2020. The adjudicating authority's rejection was upheld. en-us Fri, 19 Apr 2024 00:00:00 +0530 Sat, 27 Apr 2024 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751883 The NCLAT dismissed an appeal challenging rejection of a belated claim filed 540 days after the deadline under Section 15 of IBC. The appellant sought admission as a financial creditor after the Committee of Creditors had already approved the resolution plan. The tribunal held that claims filed post-resolution plan approval cannot be entertained, emphasizing IBC's time-bound nature. The appellant failed to prove genuine homebuyer status, filing Form-C instead of Form-CA, with inconsistent unit numbers in documents and no credible evidence of Rs. 50 lakh payment to the corporate debtor. COVID-19 limitation extensions were inapplicable as the deadline expired before March 2020. The adjudicating authority's rejection was upheld. Case-Laws Insolvency and Bankruptcy Fri, 19 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751883