Nityanand Singh And Co vs Ferrous Infrastructure Pvt. Ltd
- CitationCompany Appeal (AT) (Insolvency) No. 291 of 2017
Ratio decidendi
The rule this decision rests on
The Appellate Tribunal's power under the proviso to Section 61(2) of the Insolvency and Bankruptcy Code, 2016 to condone delay in preferring an appeal is confined to a further period not exceeding fifteen days beyond the thirty-day limitation period prescribed by Section 61(2); where an appeal is filed beyond the outer limit of forty-five days from the date of the impugned order, the Tribunal has no jurisdiction to condone the delay, and the appeal is liable to be dismissed as barred by limitation.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Nityanand Singh and Co. ...Appellant
Versus
Ferrous Infrastructure Pvt. Ltd. ...Respondent
Present: For Appellant : Shri Naresh Kumar, Advocate
ORDER
29.11.2017 This appeal has been preferred by the appellant (Operational
Creditor) against order dated 28th September, 2017 whereby and whereunder the
application preferred under Section 9 of Insolvency and Bankruptcy Code, 2016
(hereinafter referred to as the 'I&B Code') has been rejected. The petition of
condonation of delay has also been filed.
On hearing the learned counsel for the appellant and perusal of the order,
we find that the order dated 28th September, 2017 was passed by the
Adjudicating Authority in the presence of the appellant - Mr. Nityanand Singh,
Company Secretary, who appeared in person. However, he applied for certified
copy of the impugned order after more than thirty days on 30th October, 2017,
which was supplied to him on the same day i.e. 30th October, 2017. The delay
in making such application has not been explained. The appeal, after removal
of the defects, was filed on 27th November, 2017. Thus, we find that the appeal
Company Appeal (AT) (Insolvency) No. 291 of 2017 1 has been preferred after sixty days from the date of the order i.e.
28th September, 2017.
An appeal can be preferred by an aggrieved person under sub-section (1)
and sub-section (2) of Section 61 of the I & B Code. As per sub-section (2) of
Section 61 such appeal is to be filed within thirty days. As per proviso thereto,
the Appellate Tribunal has power to condone the delay, if it is satisfied that there
was sufficient cause for not filing the appeal but such period cannot exceed
fifteen days from beyond the period of thirty days. In this case as the appeal has
been preferred after 60 days of the impugned order, we hold that Appellate
Tribunal has no jurisdiction to condone the delay.
For the reasons aforesaid, we dismiss the application for condonation of
delay. In the result the appeal is dismissed being barred of limitation. No cost.
[Justice S.J. Mukhopadhaya] Chairperson
[ Justice Bansi Lal Bhat ] Member(Judicial)
/ns/uk
Company Appeal (AT) (Insolvency) No. 291 of 2017 2
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