Accel Lifestyle Pvt. Ltd vs Lok Housing & Construction Ltd. & Ors
- CitationComp. App. (AT) (Ins) No. 395 of 2026
Ratio decidendi
The rule this decision rests on
The appellate jurisdiction of the Tribunal to condone delay in filing an appeal under the Insolvency and Bankruptcy Code is limited to fifteen days beyond the prescribed period, as provided in the proviso to Section 61(2) (here referred to as Section 6(2) proviso in the text); where the delay exceeds that outer limit, the Tribunal has no power to condone it, and the application for condonation must be rejected along with the appeal.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Comp. App. (AT) (Ins) No. 395 of 2026 & I.A. No. 1510 of 2026 IN THE MATTER OF: Nath Properties Pvt. Ltd. ...Appellant(s)
Versus Lok Housing & Construction Ltd. & Ors. ...Respondent(s)
Present: For Appellant : Mr. Mullapudi Rambabu, Mr. Nithin Chowdhary Pavuluri, Mr. Shubham Saurabh, Mr. Praveen Kumar Sharma, Advocates
For Respondents : Ms. Swati Dalmia, Ms. Neha Singa., Advocates for RP
With Comp. App. (AT) (Ins) No. 397 of 2026 & I.A. No. 1523 of 2026 IN THE MATTER OF: ACCEL Lifestyle Pvt. Ltd. ...Appellant(s)
Versus Lok Housing & Construction Ltd. & Ors. ...Respondent(s)
Present: For Appellant : Mr. Mullapudi Rambabu, Mr. Nithin Chowdhary Pavuluri, Mr. Shubham Saurabh, Mr. Praveen Kumar Sharma, Advocates
For Respondents : Ms. Swati Dalmia, Ms. Neha Singa., Advocates for RP
ORDER
(Hybrid Mode)
18.03.2026 I.A. No. 1510 of 2026 in Comp. App. (AT) (Ins) No. 395
of 2026 & I.A. No 1523 of 2026 in Comp. App. (AT) (Ins) No 397 of 2026 These are the Applications filed by the Appellant praying for condonation of
17 days delay in filing both the Appeals.
Order impugned was passed on 11/12/2025 and the Appeals have
been e-Filed on 27/01/2026.
Our jurisdiction to condone the delay is limited only to 15 days as per
Section 6(2) proviso. Delay being beyond condonable period, we are unable
to condone the delay.
Application for condonation of delay is rejected. Memo of Appeal is
also rejected.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical) Prerana/md
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