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2020 (12) TMI 284 - AT - Insolvency and BankruptcyFresh claim after the approval of Resolution Plan - appeals suffered rejection of their claims during Corporate Insolvency Resolution Process - only grievance projected on behalf of the Appellants is that the delay was occasioned due to financial crisis on account of non-payment of money by the Appellants to their lenders - HELD THAT:- The Appellants have failed to adhere to the timelines prescribed under the ‘I&B Code’ and the relevant Regulations as regards filing of claims. With reference to Page 65 of appeal paper book in Company Appeal (AT) (Insolvency) No. 1021 of 2020, it appears that the IRP has rejected the claim of Appellant which was not substantiated by documentary evidence. This was done on 21st May, 2019. Page 66 of the same appeal paper book is the copy of order passed by the Adjudicating Authority extending CIRP period by 90 days. This happened on 11th September, 2019. Subsequently, the prayer of Appellant seeking direction from the Adjudicating Authority in the name of Resolution Professional to accept the supporting document in support of the claim came to be turned down in the face of delay and latches on the part of Appellant. The fact that the CIRP period was extended by 90 days by the Adjudicating Authority at the instance of Resolution Professional would not clothe the Appellants with a right to claim consideration of their claims which stage admittedly was over. Moreover, subsequent rejection of I.As declining to allow proof to be adduced in support of claims at the hugely belated stage leaves no room for contending that opportunity of submitting the claims and adducing proof in support thereof was not provided to the Appellants. Since the CIRP has crossed the culminating point with approval of the Resolution Plan of ‘Shri Dutt India Pvt. Ltd.’, the Appellants cannot be allowed to reopen the CIRP and direct de novo exercise after the CIRP period has come to an end. Appeal dismissed.
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