The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member) and Mr. Arun Baroka (Technical Member) has held that claims filed by homebuyers cannot be rejected merely for being filed beyond the stipulated time period, if the homebuyer’s unit is reflected in the list of homebuyers who had not filed their claims on time.
The Corporate Insolvency Resolution Process (CIRP) started against the corporate debtor on 11.08.2023. The Appellant failed to submit the claims within the stipulated time period. However, the unit of the Appellant duly was reflected in the list of homebuyers who had not submitted their claims. The Appellant filed an Interlocutory Application (IA) against the…