The case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), Chandigarh Bench, regarding an application filed by the Respondent in a Corporate Insolvency Resolution Process (CIRP) matter. The Respondent, Excise & Taxation Commissioner, filed a claim against the Corporate Debtor, M/s Karan Processors Pvt. Ltd., which was undergoing liquidation. The NCLT directed the Appellant, the liquidator, to treat the Respondent's claim under Section 53(1)(b)(ii) of the Insolvency and Bankruptcy Code (IBC) at par with the debt owed to a Secured Creditor. The liquidator rejected the claim as it was filed after the prescribed timeline. The NCLT relied on the Supreme Court's decision in State Tax Officer Vs. Rainbow Papers Limited, which held

The case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), Chandigarh Bench, regarding an application filed by the Respondent in a Corporate Insolvency Resolution Process (CIRP) matter. The Respondent, Excise & Taxation Commissioner, filed a claim against the Corporate Debtor, M/s Karan Processors Pvt. Ltd., which was undergoing liquidation. The NCLT directed the Appellant, the liquidator, to treat the Respondent's claim under Section 53(1)(b)(ii) of the Insolvency and Bankruptcy Code (IBC) at par with the debt owed to a Secured Creditor. The liquidator rejected the claim as it was filed after the prescribed timeline. The NCLT relied on the Supreme Court's decision in State Tax Officer Vs. Rainbow Papers Limited, which held