https://www.taxtmi.com/caselaws?id=790765 A belated claim in CIRP was not reopened after approval of the resolution plan, as the time-bound insolvency framework did not justify condonation on the facts. The claimant was a commercial entity, and no exceptional basis was shown to place it on the same footing as cases where claims were otherwise reflected in the debtor's records. The asserted entitlement from allotment of units in lieu of legal fees also failed, because there was no disbursement to the corporate debtor and the arrangement did not satisfy the requirement of consideration for time value of money. The claim was therefore not a financial debt and was not admissible against the corporate debtor. en-us Thu, 23 Apr 2026 00:00:00 +0530 Thu, 30 Apr 2026 07:19:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790765 A belated claim in CIRP was not reopened after approval of the resolution plan, as the time-bound insolvency framework did not justify condonation on the facts. The claimant was a commercial entity, and no exceptional basis was shown to place it on the same footing as cases where claims were otherwise reflected in the debtor's records. The asserted entitlement from allotment of units in lieu of legal fees also failed, because there was no disbursement to the corporate debtor and the arrangement did not satisfy the requirement of consideration for time value of money. The claim was therefore not a financial debt and was not admissible against the corporate debtor. Case-Laws IBC Thu, 23 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790765