Tribunal Upholds Rejection of Late Claim, Emphasizing Strict Timelines Under IBC for Insolvency Process Compliance.

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....Condonation of delay in filing the claim - Refusal to admit the claim - IBC is a time bound process and the Liquidator cannot accept a belated Claim, which would go against with the provisions of the IBC, 2016 as well as the scope and objective of the `Code’. It is also seen from the record that the Appellant had made every effort to derail the process and this Tribunal, does not find any substantial grounds to interfere with the well-reasoned order of the Adjudicating Authority. - AT....