Rejection of belated claim by liquidator to be challenged u/s. 42 of IBC and not by invoking provisions of section 60(5)

Asean International Limited Vs Sanjeev Maheshwari (NCLAT Delhi) NCLAT Delhi held that rejection of belated claim by liquidator needs to be challenged under section 42 of the IBC. Relief cannot be seeked by invoking provisions of section 60(5) of IBC as remedy u/s. 42 not restored. Facts- The Corporate Debtor-M/s Varun Resources Ltd. was admitted into Corporate Insolvency Resolution Proceeding on 14.06.2017. On the request of the Resolution Professional, the Appellant supplied bunkers, fuels, fresh water, oil etc. to three vessels owned by the Corporate Debtor besides also procuring the same fr...