National Spot Exchange Ltd vs Anil Kohli Rp Of Dunar Foods Ltd
- CitationCompany Appeal (AT) (Insolvency)No. 683 of 2019
Ratio decidendi
The rule this decision rests on
The Appellate Tribunal under Section 61(2) of the Insolvency and Bankruptcy Code, 2016 may condone a delay in filing an appeal only for a further period of 15 days beyond the 30-day limitation period, upon showing sufficient cause, and has no jurisdiction to condone any delay exceeding that 15-day extension. An appeal filed beyond the 45-day outer limit prescribed by Section 61(2) is barred by limitation and must be dismissed on that ground.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal (AT) (Insolvency)No. 683 of 2019 IN THE MATTER OF: National Spot Exchange Ltd. .....Appellant Vs. Mr. Anil Kohli RP of Dunar Foods Ltd. ......Respondent
Present : For Appellant: Mr. Arun Kathpalia, Senior Advocate with Mr. Ranjan Kumar Pandey, Mr. Sandeep Bisht, Mr. Anuj Tiwari, Mr. Shikhar Srivastav, Ms. Bani, Advocates For Respondents: Mr. anant A.Pavgi, Mr. Abhishek Anand, Advocates
O R D E R
05.07.2019 - This appeal has been preferred by Appellant against order dated
6th March, 2019 passed by Adjudicating Authority (National Company Law
Tribunal), Mumbai Bench.
2. The Appellant preferred claims before the 'Resolution Professional' of
'Dunar Foods Ltd.' ('Corporate Debtor'). The claim was rejected on the ground
that the claim relates to the sister concern 'PD Agro Processors Pvt. Ltd.'. The
decision of 'Resolution Professional' has been affirmed by the Adjudicating
Authority by the impugned order.
3. Learned Counsel appearing on behalf of the Appellant referred to a decree
passed in commercial suit No. 11 of 2014 wherein decree has been passed
1 against 'PD Agro Processors Pvt. Ltd.' of Rs. 633,66,98,350.40/- The rate of
interest is payable by 'PD Agro Processors Pvt. Ltd.' is 9% p.a. from the date
of accrual of the course of action / default.
4. It is stated that pursuant to the decree passed by the Hon'ble Bombay
High Court, which was considered by Resolution Professional and was rejected
after decision as noticed above.
5. The appeal has been preferred after long delay and delay for condonation
of application has been filed. 'Resolution Professional' has rightly pointed out
that beyond 45 days, the delay is 44 days, therefore, this Appellate Tribunal has
no jurisdiction to condone the delay.
6. Sub-section 2 of Section 61 provides for powers to this Tribunal of only 15
days which it can condone over the period of appeal of 30 days, if there was
sufficient cause. For the said reason, this Appellate Tribunal has no jurisdiction
to condone the delay beyond 15 days and thereby the appeal is barred by
limitation.
The appeal is dismissed being barred by limitation.
[Justice S. J. Mukhopadhaya] Chairperson
[Justice A. I. S. Cheema] Member (Judicial)
[Kanthi Narahari] Member (Technical) ss/sk
Company Appeal (AT) (Insolvency)No. 683 of 2019
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