Timeliness in filing claims in insolvency proceedings is critical; delays can be condoned under certain circumstances.

NATIONAL COMPANY LAW TRIBUNAL,

MUMBAI BENCH COURT III

Item No.9

Appeal (IBC)/24(MB)/2025

Appeal (IBC)/23(MB)2025

In

C.P. (IB)/3442(MB)/2019

CORAM: MS. LAKSHMI GURUNG, MEMBER (J)

SH. HARIHARAN NEELAKANTA IYER, MEMBER (T) ORDER SHEET OF THE HEARING ON 20.08.2025

(HEARING THROUGH: HYBRID MODE)

NAME OF THE PARTIES: Ultratech Cement Ltd

Vs.

Schema Enterprises Pvt Ltd

Appearance

For appellant : Adv. Utsav Kumar

For Respondent : Adv. Yahya Batatawala

SECTION 9 OF THE IBC, 2016

__________________________________________________________________________

ORDER

Appeal (IBC)/24(MB)/2025

1. This application has been filed by one of the Home Buyers seeking following

prayers:

of the sale consideration for Office no. 104 and Flat no. 1601 and

to execute the sale deed in favour of the appellants;

c. to direct the liquidator to hand over peaceful vacant possession of the aforesaid units/assets to the appellants post execution of the sale deed;

d. for such other order/(s) as may deem fit and necessary in the interest of justice.

2. During the course of the hearing. Ld. Counsel for the applicant admits that there are typographical errors in the prayer and seeks permission to withdraw the present appeal with the liberty to file a fresh application. Permission is granted and accordingly, Appeal 24/2025 is disposed of as withdrawn Appeal (IBC)/23(MB)2025

1. This application has been filed by one of the home buyers seeking following prayers:

a. to condone the delay in submission of claim;

b. to direct the liquidator to admit the claim of the appellant;

c. to direct the liquidator to accept the payment of remaining amount of the sale consideration for Office no. 105 and to execute the sale deed in favour of the appellant;

d. to direct the liquidator to hand over peaceful vacant possession of the aforesaid Office No. 105 to the appellant post execution of the sale deed;

e. for such other order/(s) as may deem fit and necessary in the interest of justice.

2. Heard Ld. Counsel for the Appellant. It is submitted that sale consideration for the office in question was Rs. 2.89 crores out of which an amount of Rs. 2.51 crores were already paid prior to initiation of the CIRP of the Corporate debtor and the applicant was informed that the balance amount of approximately Rs. 17 lakhs has to be paid at the time of registration of the unit. Thereafter, upon query the applicant is become aware that the CD under Insolvency/liquidation and therefore by way of the present application seeking to condone the delay and for admission of the claim by the liquidator.

3. After hearing the Appellant and considering all the facts, we are inclined to condone the delay in filing the claim. Liquidator is directed to consider their claim and to decide in accordance with the law. Prayer (a) granted.

4. Rest of the prayers are not granted at this stage.

5. With the above directions, appeal 23/2025 is disposed of.

Sd/- Sd/-

HARIHARAN NEELAKANTA IYER LAKSHMI GURUNG Member (Technical) Member (Judicial)

---Rajeev---