NCLT Chandigarh dismisses Income Tax Department's application seeking condonation of 1305-day delay in filing ₹975.56 crore claim against Gupta Builders.
Tribunal rejects individual operational creditor's claim for ₹4.4 crore filed over two years after Resolution Plan approval.
Both applications dismissed as claims were filed after Resolution Plan approval by CoC in April 2023, unsettling commercial wisdom.
NCLT emphasizes time-bound nature of IBC process, refusing to reopen settled positions after plan approval.