Pushpa Builders Ltd vs. Paramveer Distributors Pvt. Ltd. - (NATIONAL COMPANY LAW APPELLATE TRIBUNAL) (28 Mar 2023)

Appellate Tribunal has the jurisdiction to extend the period of 15 days, if it is satisfied that there is a sufficient cause for not filing the appeal within the prescribed time

MANU/NL/0240/2023

Insolvency

Present appeal is filed by an ex-director of the Corporate Debtor against the order passed by the Adjudicating Authority (National Company Law Tribunal) by which an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rule, 2016 filed by the Financial Creditor (Paramveer Distributors Pvt. Ltd.) against the Pushpa Builders Ltd. (Corporate Debtor) has been admitted.

The Appellant has filed present appeal alongwith an application invoking Rule 11 of the NCLAT Rules, 2016 ('Rules, 2016) for condonation of delay of 12 days in filing of the appeal. As per Section 61(1), any person aggrieved by the order of the Adjudicating Authority under this part may file an appeal to the Appellate Tribunal. As per Section 61(2) every appeal which is to be filed under Section 61(1) has to be filed within 30 days before the Appellate Tribunal. As per 61(2) proviso, the Appellate Tribunal has the jurisdiction to extend the period of 15 days if it is satisfied that there is a sufficient cause for not filing the appeal within the prescribed time.

The present appeal has been filed beyond the period of 45 days i.e. a period of 30 days provided in Section 61(1) and 15 days provided in proviso to Section 61(2). Thus, in view of the facts and circumstances, even if, the Appellant has submitted that a fraud has been played, in so far as, the delay is concerned, it cannot be condoned by this Tribunal because of lack of jurisdiction. Application dismissed.

Tags : DELAY CONDONATION GRANT