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DINESH MAHESHWARI, ANIRUDDHA BOSE
Anupam Industries Ltd. – Appellant
Versus
M. R. Trading Company – Respondent
| Table of Content |
|---|
| 1. restoration of petition under insolvency code. (Para 1 , 2) |
| 2. challenges to tribunal's restoration order. (Para 3 , 4) |
| 3. tribunal's discretion on condoning delays. (Para 5 , 6 , 7) |
| 4. dismissal of appeal for lack of substance. (Para 8 , 9 , 10) |
ORDER :
Dinesh Maheshwari, J.
1. Having heard learned counsel for the appellant and having perused the material placed on record, we find no reason to entertain this appeal whereby the appellant, the corporate debtor, seeks to question the orders passed for restoration of a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016.
2. The application filed by the respondent, being CP(IB) No. 294/NCLT/AHM/2019, was dismissed for non-prosecution by the National Company Law Tribunal, Ahmedabad on 12.11.2020. The applicant (respondent herein) filed two applications on 07.01.2021 seeking; (i) Condonation of Delay of 27 days in filing for restoration; and (ii) for restoration of the main petition. By a short order dated 26.10.2021, the Tribunal granted these prayers.
3. An attempt on the part of the appellant to challenge the order so passed by the Tribunal met with disapproval of the National Company Law Appellate Tribun
Inherent powers cannot override Rule 48(2)'s 30-day limit for restoring non-prosecuted petitions; counsel's negligence not sufficient cause absent litigant diligence in time-sensitive insolvency proc....
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