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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
ASHOK BHUSHAN, J
State Bank of India – Appellant
Versus
Anish Niranjan Nanavaty & Anr. – Respondent
Headnote: Read headnote
JUDGMENT
ASHOK BHUSHAN, J.
1. I.A. No. 478 of 2024 is an Application praying for condonation of 18 days delay in filing the Appeal.
2. The Order impugned was passed on 10th November, 2023 and this Appeal has been e-filed on 29.12.2023.
3. In the Delay Condonation Application, the Appellant has submitted that Impugned Order was not available prior to 12.12.2023 and Impugned Order was made available on website of NCLT on 12.12.2023. In paragraph 3 and 4, following reasons have been given for condonation of delay:
“3. That the impugned order is dated 10.11.2023. The period of 30 days, thus starts from 11.11.2023 which expires on 11.12.2023. It is a matter of fact that the impugned order was not available prior to 12.12.2023. The impugned order was made available on the official website of NCLT on 12.12.2023 thereafte
The limitation for filing an appeal begins upon the pronouncement of the order and not its publication, making delays uncondonable if not filed timely.
Delay in filing an appeal under the IBC cannot be excused based on lack of knowledge regarding the proceedings; Limitation must be strictly construed.
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....
(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....
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.
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 NCLAT cannot condone delays beyond the statutory maximum of 45 days under the IBC, emphasizing strict adherence to limitation periods in insolvency processes.
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....
The court emphasized that delay in filing appeals must be strictly justified, and lack of bona fides or negligence can prevent condonation of delay.
The court emphasized that applications for condonation of delay must demonstrate sufficient cause, with negligence and lack of bona fides leading to dismissal.
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