Commercial Entity Misses Arbitral Award Claim Due to Lack of Due Diligence in Corporate Insolvency Resolution Process.

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....CIRP - Belated claim pertaining to arbitral Award - The appellant is a commercial entity. That they were litigating against the Corporate Debtor is an undoubted fact. We believe that the appellant ought to have been vigilant enough in the aforesaid circumstances to find out whether the Corporate Debtor was undergoing CIRP. The appellant has been deficient on this aspect. The result, of course, is that the appellant to an extent has been left high and dry. - SC....