https://www.taxtmi.com/caselaws?id=768722 Belated provident fund claims filed after approval of the resolution plan cannot be admitted in the corporate insolvency resolution process when the claim was not submitted within the prescribed timeline and was raised only after collation of claims by the Committee of Creditors. The tribunal applied the clean slate principle, holding that a successful resolution applicant cannot be exposed to fresh or undecided liabilities after plan approval, even where the claim concerns statutory dues. As the original claim had already been accounted for in the approved plan and the additional claim was filed much later without timely disclosure, the resolution professional was justified in rejecting it as time-barred. The rejection was upheld. en-us Tue, 08 Apr 2025 00:00:00 +0530 Sat, 12 Apr 2025 08:39:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768722 Belated provident fund claims filed after approval of the resolution plan cannot be admitted in the corporate insolvency resolution process when the claim was not submitted within the prescribed timeline and was raised only after collation of claims by the Committee of Creditors. The tribunal applied the clean slate principle, holding that a successful resolution applicant cannot be exposed to fresh or undecided liabilities after plan approval, even where the claim concerns statutory dues. As the original claim had already been accounted for in the approved plan and the additional claim was filed much later without timely disclosure, the resolution professional was justified in rejecting it as time-barred. The rejection was upheld. Case-Laws IBC Tue, 08 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768722