Nitin Hasmukhlal Parikh. Rp Of Bhatia ... vs Idbi Bank
- CitationCompany Appeal (AT) (Insolvency) No. 541 of 2019
Ratio decidendi
The rule this decision rests on
The appeal is not maintainable where it is filed beyond the limitation period prescribed for it, and an appeal so barred is liable to be dismissed as not maintainable. Where an application under Section 33 of the Insolvency and Bankruptcy Code, 2016 has remained pending before the Adjudicating Authority for a considerable period without disposal, the Adjudicating Authority should be directed to decide that application within a fixed, early time-frame.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Nitin Hasmukhlal Parikh Resolution Professional of Bhatia Global Trading Ltd. ...Appellant
Vs.
IDBI Bank Ltd. ...Respondent
Present: For Appellant: - Mr. Mansumyer Singh and Mr. Gursat Singh, Advocates.
O R D E R
20.05.2019─ The 'Insolvency Resolution Professional' moved an
application under Section 33 of the Insolvency and Bankruptcy Code,
2016 ("I&B Code" for short), before the Adjudicating Authority (National
Company Law Tribunal), Ahmedabad Bench, Ahmedabad, wherein
following order was passed on 10th January, 2019:
"ORDER
The Parties are appeared through their respective Learned Counsels as stated above.
Heard the arguments of Learned Counsels for the Committee of Creditors as well as Caveator.
The order is reserved.
Contd/-..........
-2-
The Parties are at liberty to file their written submissions, if any, within a week, by exchanging copies to each other."
2. This appeal being barred by limitation is not maintainable and
therefore, dismissed.
However, taking into consideration the fact that the application
under Section 33 of the 'I&B Code' is pending since 10th January, 2019,
we are of the view that the Adjudicating Authority should pass order on
such application, on an early date, preferably by 12th July, 2019.
(Justice S.J. Mukhopadhaya) Chairperson
(Justice A.I.S. Cheema) Member(Judicial)
(Kanthi Narahari) Member(Technical) Ar/g
Company Appeal (AT) (Insolvency) No. 541 of 2019
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