https://www.taxtmi.com/caselaws?id=767053 NCLAT affirmed the Adjudicating Authority's refusal to entertain belated claims after resolution plan approval. The tribunal held that once a resolution plan is approved by both Committee of Creditors and Adjudicating Authority, it cannot be reopened based on claims belatedly raised by parties who failed to pursue their claims within IBC timelines without justifiable reasons. Admitting belated claims after plan approval would jeopardize the Corporate Insolvency Resolution Process as the plan was already under implementation. The appeal was dismissed. en-us Fri, 07 Mar 2025 00:00:00 +0530 Mon, 10 Mar 2025 08:42:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767053 NCLAT affirmed the Adjudicating Authority's refusal to entertain belated claims after resolution plan approval. The tribunal held that once a resolution plan is approved by both Committee of Creditors and Adjudicating Authority, it cannot be reopened based on claims belatedly raised by parties who failed to pursue their claims within IBC timelines without justifiable reasons. Admitting belated claims after plan approval would jeopardize the Corporate Insolvency Resolution Process as the plan was already under implementation. The appeal was dismissed. Case-Laws IBC Fri, 07 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767053