https://www.taxtmi.com/caselaws?id=789153 The liquidation framework under the Insolvency and Bankruptcy Code requires claims to be lodged within the time fixed in the public announcement, and a stale claim filed after an inordinate delay cannot be revived without a satisfactory explanation. A customs department claim lodged 787 days late was rejected because the delay was unexplained, and the pendency of related customs proceedings or the claimant's status as a authority did not justify bypassing the liquidation timeline. The regulations were applied to preserve the speed and finality of liquidation, and the rejection of the belated claim was upheld. en-us Thu, 26 Feb 2026 00:00:00 +0530 Sat, 04 Apr 2026 08:53:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789153 The liquidation framework under the Insolvency and Bankruptcy Code requires claims to be lodged within the time fixed in the public announcement, and a stale claim filed after an inordinate delay cannot be revived without a satisfactory explanation. A customs department claim lodged 787 days late was rejected because the delay was unexplained, and the pendency of related customs proceedings or the claimant's status as a authority did not justify bypassing the liquidation timeline. The regulations were applied to preserve the speed and finality of liquidation, and the rejection of the belated claim was upheld. Case-Laws IBC Thu, 26 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789153