Dhiren Dave vs Pantomath Capital Advisors Pvt. Ltd
- CitationCOMPANY APPEAL (AT)(INSOLVENCY) No.40 of 2019
Ratio decidendi
The rule this decision rests on
The period of limitation for an appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 runs from the date of pronouncement of the impugned order, not from the date on which a certified or formal copy is received. Where the appellant had appeared in person and had knowledge of the impugned order when it was pronounced, the appeal filed beyond the prescribed period is barred by limitation. The Appellate Tribunal's power to condone delay in filing an appeal under Section 61 is limited to fifteen days beyond the prescribed period of thirty days, so it has no jurisdiction to entertain an application for condonation of a delay exceeding that period.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Pantomath Capital Advisors Pvt Ltd Respondent
Mr. Aaditya A Pande, Advocate for Applicant. Mr K. Dutta, Mr Ishan Ravindranath, Ms Pallavi Srivastava, Advocates for Respondent. ORDER
30.08.2019- Heard learned counsel for the parties on the issue of limitation.
2. Admittedly the instant appeal against the order of dismissal of
application filed under Section 9 of the Insolvency & Bankruptcy Code, 2016
by the present appellant, operational creditor, for initiation of Corporate
Insolvency Resolution Process has been filed on 12th December, 2018 i.e after
49 days of passing of impugned order dated 23rd October, 2018. The period
of limitation in terms of provisions of Section 61 of the Insolvency &
Bankruptcy Code, 2016 has to be computed from the date of the
pronouncement of the impugned order as held in the judgement of Coordinate
Bench of this Appellate Tribunal in "Prowess International Private Ltd vs
Action Ispat & Power Private Ltd, Company Appeal (AT)(Insolvency) No.223 of
2017". The appellant was the petitioner appearing in person when impugned
order of dismissal was passed and had the knowledge of impugned order.
Learned counsel for appellant tried to persuade us to allow him to file an
application for condonation of delay but we find that since this Appellate Tribunal has no jurisdiction to condone the delay beyond 15 days in addition
to the prescribed period of 30 days for filing of appeal, filing of such
application would be an unnecessary exercise, fate whereof is inevitable
dismissal. The appeal is accordingly dismissed as being barred by limitation.
(Justice Bansi Lal Bhat) Member (Judicial)
(Mr. Balvinder Singh) Member (Technical) Bm/nn
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