Any Claims Assessed After Liquidation Commencement Date Cannot Be Accepted By Liquidator: NCLAT New Delhi

The NCLAT ruled that claims filed after the liquidation commencement date are valid in insolvency proceedings. The tribunal emphasized that the Insolvency and Bankruptcy Code (IBC) allows for the inclusion of claims filed after the commencement of liquidation, provided they are submitted within the stipulated time frame. The case involved a dispute over the validity of claims filed after the liquidation process had begun. The tribunal’s decision clarifies the procedural aspects of claim submission during liquidation.