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In a landmark decision, a three-judge bench of the Hon’ble Supreme Court, while disposing off over 350 writ petitions, in Dilip B. Jiwarajka v. Union of India and Ors., upheld the constitutional va...
Published On: 15/12/2023
Practice Area: Dispute Resolution, Insolvency & Restructuring
Authors:
Amit Jajoo
Sushmita Gandhi
Anamika Singh
The Hon’ble National Company Law Appellate Tribunal (New Delhi Bench) (“NCLAT”) in the case of Suraksha Realty Ltd. v. Mr. Anuj Bajpai (“Suraksha Realty”) confirmed the rejection of the claim filed by Suraksha Realty Ltd. through its judgment dated November 01, 2023. The claim was rejected by the NCLAT on the ground that the same was filed by Suraksha Realty Ltd. before the Resolution Professional after the resolution plan was already approved by the Committee of Creditors (“CoC”) of Panache Aluminium Extrusion Private Limited (corporate debtor). This article discusses various precedents and the amendments with respect to the treatment of delayed filings of claims under the scheme of the Insolvency and Bankruptcy Code.
