Koshy Varghese vs John Varghese & Anr

Mr. Koshy Varghese ...Appellant

Vs.

Mr. John Varghese & Anr. ...Respondents

Present: For Appellant: - Mr. Rana Mukherjee, Senior Advocate with Ms. Daisy Hannah, Mr. Nikhil Swami and Ms. Divya Swami, Advocates.

For Respondents: -None

O R D E R

10.07.2019─ Mr. John Varghese, through his authorised Power of

Attorney Holder Smt. M. Jamuna Rani, filed application under Section 7

of the Insolvency and Bankruptcy Code, 2016 ("I&B Code" for short)

against 'M/s. Value Designbuild Private Limited'- ('Corporate Debtor')

which has been admitted by the impugned order dated 10th January,

2019.

2. The appeal has been preferred by the Promoter. He has taken one

of the plea that he is ready to pay the admitted dues to the Respondent-

'Financial Creditor'.

3. Learned counsel appearing on behalf of the Appellant further

submits that 'HDFC Bank' and other Home Buyers have already taken

Contd/-.........

-2-

up the matter and decided the issue under Section 12A and the matter

thereafter was placed before the Adjudicating Authority (National

Company Law Tribunal), Bengaluru Bench, for withdrawal of application

under Section 7 of the 'I&B Code'.

4. The present appeal has been preferred after delay of 112 days and

in the light of the proviso to sub-section (2) of Section 61, this Appellate

Tribunal has no jurisdiction to condone the delay. For the said reason,

we are not expressing any opinion with regard to the impugned order

dated 10th January, 2019.

5. However, it is made clear that if the application under Section 12A

is not entertained by the Adjudicating Authority that may give a fresh

cause of action to the Appellant to move against the said order.

The appeal is dismissed being barred by limitation with aforesaid

observations. No costs.

(Justice S.J. Mukhopadhaya) Chairperson

(Justice A.I.S. Cheema) Member(Judicial)

(Kanthi Narahari) Member(Technical) Ar/g

Company Appeal (AT) (Insolvency) No. 696 of 2019