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TMI Blog2023 (11) TMI 108X X X X Extracts X X X X X X X X Extracts X X X X ..... r>Insolvency & Bankruptcy X X X X Extracts X X X X X X X X Extracts X X X X ..... ober, 2022 whereas plan was already approved on 30th March, 2021 hence no direction can be issued. In paragraph 26 of the Order, following observations have been made: "26. It is not disputed even by the applicant that no claim was formally lodged with the RP within the timelines prescribed under Regulation 12 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Court Jaypee Kensington Boulevard Apartments Welfare Association and Ors. Vs. NBCC (India) Ltd. and Ors. 2021 Ibclaw.in 63 whereby it was held that due adherence to the timelines provided in the Code and related Regulations and punctual compliance of the requirements is fundamental to the entire process of resolution and if a claim is not made within the stipulated time, the same cannot become p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th the Adjudicating Authority, admission of any claim at this stage would jeopardize the whole CIRP process and on this short ground, the application deserved to be dismissed being without any merit." 5. Learned Counsel for the Appellant submits that since the Application for approval of Resolution plan is still pending before the Adjudicating Authority, the order can be passed to consider the c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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