Liquidator obliged to explain delays in liquidation process under IBC, 2016

State of Tamil Nadu Vs S. Rajendran (NCLT Chennai) Introduction: The case of State of Tamil Nadu Vs S. Rajendran before the National Company Law Tribunal (NCLT) in Chennai delves into the accountability of a liquidator in explaining delays in the liquidation process under the Insolvency and Bankruptcy Code (IBC), 2016. Detailed Analysis: The application filed under Section 42 read with Section 60(5) of the IBC, 2016 sought modification of the communication rejecting a claim of Rs. 33,47,67,880. The tribunal noted that the claimant failed to file its claim within the stipulated time despite amp...