Srei Equipment Finance Ltd vs Dipti Atul Mehta
- CitationComp. App. (AT) (Insolvency) No. 829 of 2020
Ratio decidendi
The rule this decision rests on
The appeal under Section 61(2) of the Insolvency and Bankruptcy Code must be filed within 30 days of the order, with a further extension of 15 days available on sufficient cause, so that the outer limit for filing is 45 days from the date of the impugned order. Where the 45-day outer limit under Section 61(2) of the Insolvency and Bankruptcy Code expired before the lockdown of 20 March 2020, the period-exclusion orders passed in suo motu proceedings by the Supreme Court and by this Tribunal, which apply to periods after 20 March 2020, do not revive or extend that limitation period, and the Appellate Tribunal therefore has no jurisdiction to entertain an appeal filed outside it.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE MATTER OF: SREI Equipment Finance Ltd. ... Appellant Versus Dipti Atul Mehta ...Respondent Present: For Appellant : Mr. Arijit Mazumdar and Ms. Arushi Mishra, Advocates For Respondent : Mr. Aniruth Purosothaman Giriraj, Advocate for IRP Ms. Dipti Mehta, IRP ORDER
(Through Virtual Mode)
29.09.2020 The instant appeal has been preferred against the impugned order dated 30th January, 2020 on 4th September, 2020. Even the extended period for filing of appeal, i.e.15 days in addition to the prescribed period of 30 days, in terms of Section 61(2) of the I&B Code expired on 15th March, 2020 and the lockdown was imposed on 20th March, 2020. The order passed in suo moto by the Hon'ble Apex Court as also by this Appellate Tribunal granting exclusion of period for purposes of computation of limitation applies to post 20th March, 2020. The appeal not having preferred within the prescribed time of 45 days from the date of order, this Appellate Tribunal lacks jurisdiction to entertain the appeal.
The appeal is accordingly dismissed as time barred. However, this order will not preclude the Appellant from approaching the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench from seeking waiver in respect of costs imposed in terms of the impugned order.
[ Justice Bansi Lal Bhat ] Acting Chairperson)
[ V.P. Singh ] Member (Technical)
[ Shreesha Merla ] Member (Technical) /ns/gc/
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