NCLT Condones Income Tax Department's Belated Claim

NCLT condoned a delay in claim filing by the Income Tax Department for Rs 16.76 lakhs against corporate debtor Newgen Specialty Plastics.
The Resolution Professional was directed to examine the belated tax claim and take an appropriate decision within 50 days.
The order was issued in an ongoing Corporate Insolvency Resolution Process (CIRP) under Section 9 of the IBC, 2016.