https://www.taxtmi.com/caselaws?id=751883 Belated claims in CIRP cannot be reopened after the prescribed filing timeline and approval of the resolution plan, because insolvency resolution is time-bound and must preserve the fresh-slate basis of the plan. The COVID extension did not help where the limitation period had already expired before 15.03.2020, and the approved commercial framework could not be displaced. The claimed status as a homebuyer or financial creditor also failed because the receipt, allotment and buy-back documents were unreliable, the alleged payment was not reflected in the corporate records, and no independent proof of disbursal was produced. The challenge to rejection of the claim therefore failed. 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 Belated claims in CIRP cannot be reopened after the prescribed filing timeline and approval of the resolution plan, because insolvency resolution is time-bound and must preserve the fresh-slate basis of the plan. The COVID extension did not help where the limitation period had already expired before 15.03.2020, and the approved commercial framework could not be displaced. The claimed status as a homebuyer or financial creditor also failed because the receipt, allotment and buy-back documents were unreliable, the alleged payment was not reflected in the corporate records, and no independent proof of disbursal was produced. The challenge to rejection of the claim therefore failed. Case-Laws Insolvency and Bankruptcy Fri, 19 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751883