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SANJAY KUMAR, SATISH CHANDRA SHARMA
Ashdan Properties Pvt. Ltd. – Appellant
Versus
DSK Global Education And Research Pvt. Ltd. – Respondent
JUDGMENT
SANJAY KUMAR, J
1. Challenge in this appeal, filed under Section 62 of the Insolvency and Bankruptcy Code, 2016 [for short, “IBC”], is to the judgment dated 01.07.2024 passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi [for short, “NCLAT”], in so far as it pertains to Company Appeal (AT) (Insolvency) No. 1308 of 2023.
2. Though comprehensive and compendious arguments were advanced by both sides on the merits of the case, we are of the opinion that this appeal is amenable to resolution on a purely technical ground which forecloses examination of the matter on merits.
3. Company Appeal (AT) (Insolvency) No. 1308 of 2023 was filed by DSK Global Education and Research Pvt. Ltd., respondent No. 1 herein, assailing the validity of the order dated 23.06.2023 passed by the National Company Law Tribunal, Mumbai Bench [for short, “NCLT”], in I.A. No. 1950 of 2021 in Company Petition (IB) 306/MB/2020. By the said order, the NCLT allowed the interlocutory application filed by the Resolution Professional and approved the resolution plan submitted by the successful resolution applicant, Ashdan Properties Private Limited, the appellant before us.
4. Section 61(2
Appeal – Limitation – Though National Company Law Appellate Tribunal is clothed with powers to exempt and to extend time under Rules 14 and 15 of NCLAT Rules respectively, such powers cannot be exerc....
(1) Appeal – Period of limitation – Any party which is aggrieved by decision of NCLT can file appeal before NCLAT – Statutory time limit of 30 days within which appeal can be preferred, is extendable....
(1) Appeal is a creature of statute – There is a fundamental distinction between right to file a suit and right to file an appeal.(2) Appeal against order passed in miscellaneous application in a liq....
The main legal point established in the judgment is the importance of clarity and consistency in administrative guidance, particularly regarding the computation of limitation for filing an appeal. Th....
Appeal – Limitation stops running on e-filing of appeal before NCLAT and not on presentation of physical copy – Date on which limitation begins to run is intrinsically linked to date of pronouncement....
The court established that free certified copies and those obtained for a fee are treated equally for appeal purposes under the IBC and relevant rules.
The NCLAT cannot condone delays beyond the statutory maximum of 45 days under the IBC, emphasizing strict adherence to limitation periods in insolvency processes.
The limitation for filing an appeal begins upon the pronouncement of the order and not its publication, making delays uncondonable if not filed timely.
The IBC mandates strict adherence to limitation periods for appeals, emphasizing timely resolution in insolvency proceedings.
Delay in filing an appeal under the IBC cannot be excused based on lack of knowledge regarding the proceedings; Limitation must be strictly construed.
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