Yes Bank Limited vs Laxmi Oil And Vanaspati Private Limited
- CitationInterlocutory Application No.3011/2022
Ratio decidendi
The rule this decision rests on
The delay in re-filing a memorandum of appeal, after office defects were cured, may be condoned where the Appellant shows sufficient cause, such as the non-availability of a Record of Default issued by an information utility under the applicable Regulations, and the delay is neither intentional nor deliberate.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
Yes Bank Ltd. .... Appellant
vs.
Laxmi Oil and Vanaspati Pvt. Ltd. .... Respondent
Appearance: Chitranshul A. Sinha, Advocate for the Appellant.
29.08.2022
This is an application to extend the time granted for curing the defects.
2. The facts of the case are that the Appellant filed the Memo of Appeal on 28.07.2022 and the Office after scrutiny of the Memo of Appeal on 01.08.2022, intimated the defects to the Appellant on the same day and returned the Memo of Appeal to the Appellant on 03.08.2022. The Appellant re-filed the Memo of Appeal on 22.08.2022. It is stated in the Interlocutory Application (IA) that delay of 07 days caused due to non- availability of the Record of Default issued by information utility under sub-regulation (4) of regulation 21 of the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017, which is neither intentional nor deliberate but for the reasons stated above, so the same may be condoned.
3. Heard learned Counsel appearing for the Appellant and perused the averments made in the IA as well as Office report.
4. Considering the submissions made on behalf of the Appellant and for the reasons mentioned in the IA, which are sufficient, the delay in re- filing the Memo of Appeal is hereby condoned.
5. As prayed, list the case before the Hon'ble Bench under the heading 'for admission (fresh case)'.
6. With the aforesaid order, this IA stands disposed of.
(Peeush Pandey) Registrar
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