The National Company Law Appellate Tribunal (NCLAT) New Delhi has held that a claim submitted within the prescribed period during the Corporate Insolvency Resolution Process (CIRP) cannot be rejected merely on technical or procedural grounds. The Appellate Tribunal directed the Resolution Professional (RP) to consider the claim of Amisha In Sky Creation Pvt. Ltd. under the category of “other creditor.”
The ruling came in cross appeals arising out of the order passed by the National Company Law Tribunal (NCLT), Mumbai Bench, in the CIRP of Setubandhan Infrastructure Ltd. The appeals were heard by the bench comprising Justice Ashok Bhushan, Chairperson, and Barun Mitra, Member (Technical).
The dispute arose…