M/S Surya Dealtrade Pvt Ltd vs Vipul Ltd
- CitationCompany Appeal (AT) (Insolvency) No. 403 of 2025
Ratio decidendi
The rule this decision rests on
Where a Section 7 application has been dismissed as infructuous and a restoration application is filed after a delay of more than two and a half years, the Adjudicating Authority is entitled to refuse restoration where no grounds are made out for reviving the petition after that period; such refusal does not foreclose the applicant from filing a fresh application in accordance with law.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Surya Dealtrade Pvt. Ltd. ....Appellant Vs.
Vipul Ltd. ...Respondents
For Appellant Mr. Sandeep Bajaj, Mr. Devansh Jain, Ms. Shrishti Jeswani, Advocates. For Respondents
ORDER
(Hybrid Mode)
18.03.2025: I.A. No. 1514 of 2025:- This is an application praying for
condonation of 15 days' delay in filing the appeal. Reasons given in sub-
paragraph (III) are sufficient for condonation of 15 days' delay in filing the
Appeal. Delay is condoned.
Company Appeal (AT) (Insolvency) No. 403 of 2025:-
This Appeal has been filed against the order dated 17.12.2024 passed
by the Adjudicating Authority (National Company Law Tribunal) New Delhi
Bench (Court-II) rejecting RA No. 51 of 2024 which was filed in C.P. (IB) No.
860/ND/2020. Application filed by the Appellant under Section 7 was
dismissed as infructuous by order dated 15.07.2021. Appellant filed the
Restoration Application after more than 2 ½ years seeking restoration of the 2
Company Petition which was dismissed on 15.07.2021. Adjudicating
Authority rejected the said application observing that no grounds have been
made out to revive the Company Petition after 2 ½ years.
2. We do not find any error in the impugned order passed by the
Adjudicating Authority refusing to revive the Company Petition. We, however,
observe that the rejection of the Restoration Application shall not preclude the
Appellant to file a fresh application in accordance with law.
3. Subject to liberty aforesaid, Appeal is dismissed.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical)
[Arun Baroka] Member (Technical)
Anjali/nn
Company Appeal (AT) (Insolvency) No. 403 of 2025 & I.A. No. 1514 of 2025
This page reproduces a public judgment and a summary of it. It is research material, not legal advice, and it is no substitute for advice from an advocate on your own facts.
Research this judgment with Miss Lucy
Ask what it holds, what has followed it, and what it means for your matter — in plain English, with the citations.
Try Miss Lucy free