JUDGMENT :

M.R. SHAH, J.

1. Feeling aggrieved and dissatisfied with the impugned order dated 05.07.2019 passed by the National Company Law Appellate Tribunal, New Delhi (hereinafter referred to as the ‘NCLAT’) in Company Appeal (AT)(Insolvency) No. 683 of 2019, by which the NCLAT has refused to condone the delay of 44 days in preferring the appeal against the order passed by the National Company Law Tribunal (hereinafter referred to as the ’NCLT’), rejecting the claim of the appellant herein, the appellant - National Spot Exchange Limited has preferred the present appeal.

2. The facts leading to the present appeal in nutshell are as under:

That the State Bank of India has initiated the insolvency proceedings before the NCLT under Section 7 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the ‘IBC’) against one Dunar Foods Limited (hereinafter referred to as the ‘Corporate Debtor’) on the ground that Corporate Debtor had taken credit limits by hypothecating the commodities kept in the warehouses of the appellant - National Spot Exchange Limited; that the NCLT admitted the petition and commenced the corporate insolvency resolution process against the corporate debt