Birla Industries Group Charity Trust vs Anil Goel & Anr

Birla Industries Group Charity Trust ...Appellant

Versus

Anil Goel & Anr. ...Respondent

Present:

For Appellant: Mr. Rajiv Rajan Senior Advocate with Ms.Aliya Durafshan, Ms.Anju Jain, Mr.Hitesh Sachar Ms.Namita Jose, Advocates.

For Respondent: Mr.Kanishk Khetan, for Respondent No.1 Ms.Suchitra Valjee with Mr.N.Kartik for R-2

ORDER

18.11.2019: The Respondent- 'Edelweiss Asset Reconstruction Co.

Ltd'- ('Financial Creditor') filed an application under Section 7 of the

Insolvency and Bankruptcy Code, 2016 (for short IBC) for initiation of

Corporate Insolvency Resolution Process ('for short CIRP') against

'M/s.Birla Cotsyn (India) Limited' ('Corporate Debtor'). The Adjudicating

Authority ('National Company Law Tribunal'), Mumbai bench, Mumbai, by

impugned order dated 20.11.2018 admitted the application.

Learned Counsel appearing on behalf of the Appellant submits that

default has taken place on 29.10.2012 and the application is barred by

limitation. The Adjudicating Authority has also noticed that the claim is

barred by Limitation, which is noticed at para 10 of the impugned

judgement. But in spite of the same, Application under Section 7 of I&BC,

2016 has been admitted.

However, in view of the fact that the appeal has been preferred before

this Appellate Tribunal after delay of 1(one) year, in view of sub-section (2) 2

of Section 61 of IBC this Appellate Tribunal has no jurisdiction to condone

the delay beyond 15 days after 30 days of filing of the appeal. We are not

deciding the case on merit. The Appeal is accordingly dismissed as barred

by Limitation.

[Justice S. J. Mukhopadhaya] Chairperson

[Justice Bansi Lal Bhat] Member(Judicial)

[Justice Venugopal M.] Member (Judicial)

Rk/sk