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2021 (9) TMI 891 - AT - Insolvency and BankruptcyNon-filing of claim by appellant despite public announcement as well as the intimation through email to Insolvency Professional - It is the case of the Appellant that they were neither intimated nor were they aware about the fact that the last date of submission of claim has expired - HELD THAT:- In the instant case the Resolution Plan was approved by 91.02% of the Members of CoC and is pending approval before the Adjudicating Authority and was last listed for hearing on 16.06.2021. The literal language of Section 12 mandates strict adherence to the time frame it lays down. Time and again, the Hon’ble Supreme Court in [2017 (9) TMI 58 - SUPREME COURT] has noted that the model timelines provided in Regulation 40A of the CIRP Regulations should be followed as closely as possible - In this case, on account of lockdown and pandemic the last date was extended from 31.03.2020 to 16.08.2020 to facilitate all creditors to file their claims. In the background of this factual matrix, we hold that the delay/latches are on behalf of the Appellant and there is no dereliction of duty on behalf of the IRP/PR. The Resolution Professional was not duty bound to collate claims which are belatedly received after the last date thereby delaying the entire CIRP which is a time bound process and further having regard to the fact that the claim of the Appellant was incorporated in the Information Memorandum which was circulated to the Prospective Resolution Applicant and the Members of the Committee of Creditors for their consideration, there is no dereliction of duty on behalf of the IRP/RP as provided for under Sections 18 and 21(1) of the Code. Appeal dismissed.
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