Religare Finvest Ltd vs Strategic Credit Capital Pvt. Ltd

National Company Law Appellate Tribunal27 April 2023Ashok Bhushan

CitationCompany Appeal (AT)(Insolvency) No. 398 of 2023

Ratio decidendi

The rule this decision rests on

Where an application for a certified copy of an order is made more than 30 days after the order is pronounced, the appellant is not entitled to exclude the time taken in preparing that certified copy when computing the limitation period for an appeal. The Tribunal's power to condone delay in filing an appeal is confined to a further period of 15 days beyond the prescribed limitation period; where the delay exceeds that margin, the Tribunal has no jurisdiction to condone it and the delay condonation application must be rejected, with the memorandum of appeal consequently rejected.

Written by Miss Lucy from the judgment below, not taken from a headnote.

Judgment

As delivered

NATIONAL COMPANY LAW APPELLATE TRIBUNALPRINCIPAL BENCH, NEW DELHICompany Appeal (AT)(Insolvency) No. 398 of 2023&I.A. No. 1326, 1327 of 2023

IN THE MATTER OF: Religare Finvest Ltd. ...Appellant

Versus

Strategic Credit Capital Pvt. Ltd. ...Respondents

Present: For Appellant : -

For Respondents : Mr. T. Ravichandran, Mr. K.V. Balakrishnan and Mr. Rahul Kumar Sharma, Advocates

ORDER

27.04.2023: I.A. No. 1327 of 2023

This is an application praying for condonation of delay in filing the

appeal. The Order impugned is dated 26.11.2022 by which Section 7

application filed by the Appellant was rejected. This appeal has been filed on

04.03.2023.

Learned Counsel for the Appellant submits that the order was not

uploaded and hence the Appellant could apply for certified copy only on

09.01.2023 which was made ready on 01.02.2023. It is submitted that from

the date i.e., 01.02.2023, the appeal is within 45 days.

We have considered the submissions of the learned Counsel for the

Appellant and perused records. The order was pronounced on 25.11.2022 and

the date of application for certified copy was 09.01.2023 i.e., beyond 30 days.

Company Appeal (AT)(Insolvency) No. 398 of 2023 Page 1 of 2 When an application for certified copy is filed beyond 30 days, the Applicant is

not entitled to exclude the period which was taken in preparation of the

certified copy of the order.

There being delay of more than 15 days in filing the Appeal and our

jurisdiction to condone the delay in filing the appeal is only 15 days, we are

unable to condone the delay as prayed for. Delay condonation application is

rejected. Consequently, the Memo of Appeal is rejected.

[Justice Ashok Bhushan] Chairperson

[Mr. Barun Mitra] Member (Technical) akc/nn

Company Appeal (AT)(Insolvency) No. 398 of 2023 Page 2 of 2

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