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2019 (10) TMI 375 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - reason of rejection as shown by the Liquidator is that the amount claimed is barred by limitation, as the same is due more than three years - HELD THAT:- The provisions of Section 42 of the IBC, 2016, stipulate that a Creditor may appeal to the Adjudicating Authority against the decision of the Liquidator either accepting or rejecting the claim within 14 days of receipt of the decision. The time period fixed appears to be mandatory for filing the appeal, and therefore the delay of 175 days cannot be condoned. Even otherwise, the cause shown in filing the appeal with the delay of 175 days does not appear to be a sufficient for seeking condonation of delay, as no medical certificate of any ailment is placed on record. The reasons given are general in nature and not supported with any documentary evidence. Therefore, no case is made out for condonation of delay of 175 days in filing the appeal under the Provisions of Section 42 of the I&B Code, 2016. The rejection of claim stand dismissed.
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