2023 (8) TMI 411

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..... :- During the intervening period, the subject matter involved in the liquidation process has been disposed of and third party rights have been created. Therefore, the NCLT observed that the appellant herein may pursue other remedies available in law. The said order has been affirmed by the National Company Law Appellate Tribunal (NCLAT). The contention of learned counsel for the appellant that .....

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..... ainst the said communication the appellant approached the National Company Law Tribunal (for short NCLT ) which has recorded in paragraph b of its order as under: b. We are informed that the notice of liquidation was published on the website of IBBI within 1 week of the order of liquidation. Liquidator is present before us and we are informed that the property i.e. subject matter of the li .....

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..... ken on record, can be accepted. It is needless to observe that any delay that is caused in the making of a claim and the condonation thereof in the absence of any provision thereto would ultimately prolong the entire proceedings contemplated under the provisions of the Insolvency and Bankruptcy Code, 2016 (for short IBC ), the aim and object of which is to resolve corporate insolvency in a time b .....

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