Suman Chopra Vs Arvind Kumar (NCLAT Delhi)
The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 against an order of the Adjudicating Authority dismissing an application for admission of a delayed claim filed by a homebuyer.
The Corporate Debtor was admitted into the Corporate Insolvency Resolution Process (CIRP) on 27.02.2023, and a public announcement inviting claims was issued on 07.07.2023. The Appellant submitted its claim on 15.03.2024, which was significantly delayed by 245 days from the date of public announcement and only four days prior to the Committee of Creditors (CoC) meeting scheduled on 19.03.2024 for voting on the resolution plan.
The Resolution Professional (RP) declined to verify or admit the claim on the ground that it was filed within seven days prior to the CoC meeting, contrary to Regulation 13(1B) and 13(1C) of the CIRP Regulations. These provisions allow consideration of delayed claims only if they are submitted up to seven days before the CoC meeting. The Adjudicating Authority upheld this position and rejected the application seeking condonation of delay.
The Appellant contended that the claim had been submitted in the prescribed form along with supporting documents and that the liability of the Corporate Debtor was reflected in its records. It was argued that procedural timelines should not override substantive justice and that the RP failed to comply with Regulation 6A requiring individual communication to creditors. The Appellant also relied on earlier tribunal decisions to argue that belated claims should be considered if reflected in the records of the Corporate Debtor.
