Intention of the IBBI (CIRP) (Second Amendment) Regulations, 2023 to include and benefit the Creditors who filed their claims with proof belatedly beyond the time limit specified and within a contingency as stipulated under CIRP Regulation 13 (1B) with a genuine reason for such delay – Hitesh Goel, RP of Bhadreshwar Vidyut Pvt. Ltd. Vs. Supreme Industries Ltd. – NCLT Chennai Bench
CIRP Regulation 13 (1C) mandates the IRP or RP with two directions. First to intimate the Creditor within 7 days along with reasons from categorisation of claim as non-acceptable for collation. Second to put the claims which is categorised as acceptable and collated before the CoC for recommendation for inclusion in the list of Creditors and its treatment in the resolution plan. Additionally, the second condition directs the IRP or RP to submit the delayed claims as specified in Regulation 13 (1B) which are categorised as acceptable, collated and recommended by the CoC before the Adjudicating Authority for Condonation of delay and adjudication.
