NCLAT Chennai: Belated, Unsubstantiated Claims Cannot Be Entertained After CoC Approval of Resolution Plan

April 9, 2026 : The National Company Law Appellate Tribunal (NCLAT), Chennai Bench has dismissed an appeal filed by GK Ispat Private Limited, reiterating that claims not filed within the prescribed timeline or lacking proper substantiation cannot be entertained at an advanced stage of the Corporate Insolvency Resolution Process (CIRP), particularly after approval of the resolution plan by the Committee of Creditors (CoC).

The Bench comprising Justice Sharad Kumar Sharma (Judicial Member) and Arun Baroka (Technical Member) upheld the decision of the National Company Law Tribunal (NCLT), Bengaluru, as well as the Resolution Professional, rejecting the operational creditor’s claim against Katerra India Private Limited.

The appellant had claimed dues arising from supply of construction materials between March 2016 and March 2022, asserting an outstanding amount of over ₹16.97 crore. The claim was submitted in Form B on December 9, 2023, following initiation of CIRP on September 8, 2023 and the public announcement dated September 14, 2023.

However, the Tribunal noted that the claim was filed beyond the stipulated timeline under the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. More significantly, despite repeated communications from the Resolution Professional seeking additional documents and clarification for verification of the claim, the appellant failed to respond or provide the required supporting material.

As a result, the Resolution Professional found that the claim could not be verified under Regulation 13 and observed that no corresponding dues were reflected in the books of the corporate debtor. Consequently, the claim was rejected and the appellant was not included in the list of creditors.

The Appellate Tribunal further noted that by the time the appellant pursued consideration of its claim, the resolution plan had already been approved by the CoC and was pending approval before the Adjudicating Authority. At such a stage, the Tribunal held, fresh or unverified claims cannot be entertained as the CIRP framework is strictly time-bound.

Rejecting the appeal, the Tribunal emphasized that adherence to procedural timelines is fundamental to the insolvency process. It observed that the appellant’s own inaction—particularly failure to respond to communications and substantiate its claim—was the primary reason for rejection.

The NCLAT concluded that the rejection of the claim did not suffer from any legal infirmity and reaffirmed that claims filed belatedly and without adequate proof cannot be considered once the resolution process has reached an advanced stage. Accordingly, the appeal was dismissed for lack of merit.

Case Details:
Case Title: GK Ispat Private Limited v. Pankaj Srivastava, Resolution Professional of Katerra India Pvt. Ltd.
Case No.: Company Appeal (AT) (CH) (Ins) No. 86 of 2025
Coram: Justice Sharad Kumar Sharma (Judicial Member) and Arun Baroka (Technical Member)