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Judgment
ORDER
Heard the Learned Counsel for the ‘Petitioner’/‘Appellant’.
According to the ‘Petitioner’/‘Appellant’, the ‘Impugned Order’ dated 26.08.2022 in I.A.(IBC)/605/CHE/2022 in IBA/138/2019 was passed by the ‘Adjudicating Authority’ [National Company Law Tribunal’, Special Bench-II, Chennai] whereby and whereunder, the ‘Resolution Plan’ was approved based on the footing that the same was in accordance with Sections 30 and 31 of the Insolvency and Bankruptcy Code, 2016.
It is the stand of the ‘Petitioner’/‘Appellant’, the instant Company Appeal (AT)(CH)(Ins) No.42 of 2023 is preferred before this ‘Appellate Tribunal’ with a delay of 15 days and that the ‘Impugned Order’ was neither made available on the Official Website of the ‘Adjudicating Authority’/‘Tribunal’ or on the Official Website of the Insolvency and Bankruptcy Board of India.
It transpires that the ‘Petitioner’/‘Appellant’ has preferred the instant Company Appeal on 16.11.2022 at 1.08 p.m. The clear-cut stand of the ‘Petitioner’/‘Appellant’ within few days from the time of receipt of the ‘Impugned Order’ being 03.10.2022, the instant ‘Company Appeal’ came to be filed before the ‘Office of the Registry’ on 16.11.2022 at 1.08 p.m.
The contention of the ‘Petitioner’/‘Appellant’ that the instant ‘Company Appeal’, is filed within the time limit, including the grace period of 15 days afforded to this ‘Tribunal’ is an incorrect one because of the ‘latent’ and ‘patent’ fact that as per Section 61(1) of the Insolvency and Bankruptcy Code, in person aggrieved by an order of ‘Adjudicating Authority’ may prefer an ‘Appeal’ to this ‘Tribunal’ within 30 days. As such, it is categorically made quite clear that the instant Company Appeal (AT)(CH)(Ins) No.42 of 2023 filed by the ‘Petitioner’/‘Appellant’ is beyond the prescribed condonable period as per Section 61(1) of the Insolvency and Bankruptcy Code, 2016 as opined by this ‘Tribunal’. In reality, from the date of ‘Impugned Order’ dated 26.08.2022, the instant Company Appeal came to be filed by the ‘Petitioner’/‘Appellant’ on 16.11.2022, with a delay of 37 days [excluding 30 + 15 = 45 days being the outer limit] specified under the Code. Viewed in that perspective, this ‘Tribunal’ is of the earnest opinion, especially keeping in view of the Rule 150 of the NCLT Rules, 2016, the Petition for purported condonation of delay of 15 days is not to be allowed, because it is clearly barred by time and all the more when there is no Provision under the ‘Insolvency and Bankruptcy Code, 2016’ which enjoins upon the ‘Tribunal’, to condone the delay period, of course, beyond the prescribed period.
Looking at from any angle I.A. No.152 of 2023 in CA (AT) (CH) (INS) No.42 of 2023 fails.
In fine, I.A.152 of 2023 in CA (AT) (CH) (INS) 42 of 2023 is dismissed.
No Cost.
Consequent to the ‘Dismissal’ of the I.A. No.152 of 2023 in Comp App (AT) (CH) (Ins) No.42 of 2023, the Instant Company Appeal (AT) (CH) (Ins) No.42 of 2023, is rejected. No cost.
The connected pending I.A. Nos.150, 151, 153, 154 & 155 of 2023 are closed.