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2022 (6) TMI 1304 - Tri - Insolvency and BankruptcySeeking condonation of delay in filing claim amount - seeking direction to Respondent to include the Applicant as stakeholder in the finalized list of creditors and pay off the claim amount - direction to Respondents for payment of costs - HELD THAT:- It is observed that the Applicant was required to file the form as per Regulation 20 of the IBBI (Liquidation Process) Regulations, 2016 before the Liquidator in Form "G" but the Applicant chose to file its claim in Form "F" under Regulation 9A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016). This form is required to be filed during CIRP. Further the Form was belatedly submitted before the Liquidator who in turn informed the Applicant of shortcomings. It can be seen from the proceedings of this Tribunal vide order dated 07.03.2022, wherein it was submitted by the Applicant/RPFC that they seek condonation of delay of 268 days in making claim to the liquidator. But when this Tribunal has calculated the delays from the liquidation commencement date and till the date of submission of impugned form before the Liquidator i.e. 06.07.2021, i.e. the delay comes to 672 days and not 268 days - Hence extraordinary delay of 672 days in submission of claim by applicant, is devoid of merits. Further in interest of Justice also we cannot condone the delay sought for. Further, if such extraordinary delay is condone, it shall defeat the very purpose of the IBC enactment, which is a time bound process. The Hon'ble Supreme Court in GAURAV HARGOVINDBHAI DAVE VERSUS ASSET RECONSTRUCTION COMPANY (INDIA) LTD. AND ANR. [2019 (9) TMI 1019 - SUPREME COURT], in relation to the aspect of limitation has restated the well-established and well settled principle that "there is no equity about limitation", this Application/Appeal need not be entertained. Since the application is incomplete, the claim form which has been filed by the applicant before the Liquidator is not in accordance with the form prescribed under IBBI (Liquidation Process) Regulations, 2016, such claim is non-est - Application dismissed.
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