NCLT Chandigarh dismissed Income Tax Department's application seeking condonation of 1305-day delay in filing ₹975.56 crore claim.
Tribunal upheld RP's rejection of belated claim filed in October 2025, three years after CIRP commencement and two years after CoC approval.
Court ruled that admitting claims post-Resolution Plan approval would unsettle commercial wisdom and violate time-bound resolution under IBC.
Income Tax Department claimed unawareness of CIRP until October 2025, but tribunal found no justifiable reason for extraordinary delay.