Time-barred claims by Creditors in IBC Proceedings should not to be considered

Pooja Mehra Vs Victory Ace Social Welfare Society (NCLAT Delhi) Conclusion: NCLAT’s decision underscores the significance of compliance with time limits prescribed under the IBC and  there being no minimum payment prescribed for the class of creditors i.e. homebuyers under the IBC, the payment of NIL to them was well within the commercial discretion of the CoC.. The judgment served as a reminder of the balance between creditor rights and procedural expediency within the insolvency framework. Held: Appellant challenged the dismissal of her application seeking condonation of delay in fili...