As per Regulation 12(2) of IBBI-CIRP regulations, a creditor may file their claim on or before the 90th day of the insolvency commencement date (i.e. 08.01.2020). In the given matter 90th day (after excluding 215 days which were not available for CIR proceedings) expired on 09.11.2020.
In the interest of creditors the office of Resolution Professional accepted the claims received till 19.02.2021 but RP has received oral representation from the PRAs that it will be difficult for PRA to prepare the Resolution Plan, if RP kept collating the claim and updating the list of creditor.
Therefore it has been decided that henceforth no claim will be accepted and collated by the office of Resolution Professional except the delay is condoned by the Hon’ble NCLT.