The case involves an application (IA No. 204/JPR/2019) filed by SBI Funds Management Pvt. Ltd. seeking condonation of a 12-day delay in filing a claim in Form-B before the Liquidator. The applicant claimed unawareness of the public announcement regarding the initiation of CIRP against the Corporate Debtor, which prevented timely submission of the claim. The applicant's counsel stated that they became aware of the CIRP/liquidation on 2019-03-28 and filed the claim on the same day, asserting that the delay was unintentional.
SBI Funds Management Pvt. Ltd. filed IA No. 204/JPR/2019 seeking condonation of a 12-day delay in filing a claim in Form-B before the Liquidator. The applicant claimed they were unaware of the public announcement regarding the CIRP initiation against the Corporate Debtor. The applicant's counsel stated that they became aware of the CIRP/liquidation on 2019-03-28 and filed the claim on the same day, asserting the delay was unintentional. The delay is relevant because it could potentially bar SBI Funds Management Pvt. Ltd. from participating in the CIRP process and recovering their dues. The applicant's explanation for the delay is crucial in determining whether the delay should be condoned.
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SBI Funds Management Pvt. Ltd. became aware…
Order delivered by the…
The case involves an application (IA No. 204/JPR/2019) filed by SBI Funds Management Pvt. Ltd. seeking condonation of a 12-day delay in filing a claim in Form-B before the Liquidator. The applicant claimed unawareness of the public announcement regarding the initiation of CIRP against the Corporate Debtor, which prevented timely submission of the claim. The applicant's counsel stated that they became aware of the CIRP/liquidation on 2019-03-28 and filed the claim on the same day, asserting that the delay was unintentional.
SBI Funds Management Pvt. Ltd. filed IA No. 204/JPR/2019 seeking condonation of a 12-day delay in filing a claim in Form-B before the Liquidator. The applicant claimed they were unaware of the public announcement regarding the CIRP initiation against the Corporate Debtor. The applicant's counsel stated that they became aware of the CIRP/liquidation on 2019-03-28 and filed the claim on the same day, asserting the delay was unintentional. The delay is relevant because it could potentially bar SBI Funds Management Pvt. Ltd. from participating in the CIRP process and recovering their dues. The applicant's explanation for the delay is crucial in determining whether the delay should be condoned.
SBI Funds Management Pvt. Ltd. became aware…
Order delivered by the…