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Kairav Anil Trivedi - Irp For Parenteral ... vs Punjab National Bank And Anr

National Company Law Appellate Tribunal11 July 2024Ashok Bhushan

Ratio decidendi

The rule this decision rests on

The Appellate Tribunal's jurisdiction to condone delay in filing an appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 is confined to a further period of fifteen days beyond the forty-five-day limitation period, as provided by the proviso to Section 61(2); no power exists to condone delay beyond that outer limit, and the time spent obtaining a certified copy of the impugned order is to be excluded only within that statutory framework.

Written by Miss Lucy from the judgment below, not taken from a headnote.

Judgment

As delivered

NATIONAL COMPANY LAW APPELLATE TRIBUNALPRINCIPAL BENCH, NEW DELHICompany Appeal (AT) (Insolvency) No.760 of 2024& I.A. No. 2623, 2730 of 2024

IN THE MATTER OF: Kairav Anil Trivedi IRP of Parenteral Drugs India Ltd ...Appellant

Versus

Punjab National Bank & Anr. ...Respondents

Present: For Appellant : Mr. Pratik Sarkar, Advocate. For Respondents : Mr. Siddharth Sangal, Mr. Chirag Sharma, Advocate for R-2 (SBI). Mr. Shriray Khambete, Advocate.

ORDER

(Hybrid Mode)

11.07.2024: I.A. No.2730 of 2024: This is an application praying for

condonation of delay in filing the appeal. The order impugned was passed on

04.12.2023 and the present appeal has been filed on 26.01.2024.

2. Learned counsel for the Appellant submits that order was uploaded on

07.12.2023 and unless the Appellant is aware of the order, he cannot form

any informed opinion to file appeal. He submits that limitation shall

commence from 07.12.2023. He further submits that there were some

medical exigencies also due to which delay was caused. He submits that

certified copy was applied on 15.12.2023 and copy was given by the Registry

on 20.12.2023, hence, six days' time has to be excluded.

3. Learned counsel for the Respondent submits that order having been

delivered on 04.12.2023, the limitation shall commence from next day and

Cont'd.../ 2

even if benefit of six days in obtaining certified copy is given, the appeal is not

filed within 15 days after expiry of limitation period. It is submitted that in

so far as question of limitation from date of knowledge is concerned, the said

ground was considered and not accepted by the Hon'ble Supreme Court in

the matter of "V. Nagarajan vs. SKS Ispat and Power Limited & Ors.,

(2022) 2 SCC 244".

4. After hearing learned counsel for the parties and perusal of the record,

it is clear that even if we give the benefit of period during which certified copy

was under preparation, the appeal was filed on 26.01.2024 which is beyond

45 days from passing of the order. Our jurisdiction to condone delay is limited

to only 15 days after expiry of limitation under Section 61(2) proviso. The

appeal having been filed after 15 days after expiry of limitation, we are unable

to condone the delay as prayed in the application. Delay Condonation

Application is dismissed. In result, Memo of Appeal is rejected.

[Justice Ashok Bhushan] Chairperson

[Barun Mitra] Member (Technical) Archana/nn

Company Appeal (AT) (Insolvency) No.760 of 2024

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