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Judgment
ORDER
10.01.2023: Heard Mr. M Dinesh Kumar, the Learned Counsel appearing for the ‘Petitioner’ / ‘Appellant’ in IA/1124/2022 in Comp App (AT) (CH) (Ins) No.444/2022.
According to the ‘Petitioner’ / ‘Appellant’, the ‘impugned order’ in MA/1433/2019 in CP/941/IB/2018 passed on 20.07.2020 by the ‘Adjudicating Authority’ (National Company Law Tribunal, Chennai Bench). However, the instant Comp App (AT) (CH) (Ins) No.444/2022 was preferred by the ‘Petitioner’ / ‘Appellant’ before the ‘Office of the Registry’, on 30.11.2022 vide E-Filing No.3011220010130 and the reason ascribed on behalf of the ‘Petitioner’ / ‘Appellant’ for the ‘delay’ of ‘183 Days’, in preferring the instant Comp App (AT) (CH) (Ins) No.444/2022, is that due to ‘financial constraint’ faced by the ‘Sole Proprietor’ of the ‘Appellant’ and hence, the ‘Appeal’ could not be filed, in time. Since the ‘Delay’, that has occurred in preferring the instant Comp App (AT) (CH) (Ins) No.444/2022 is neither ‘wilful’ nor ‘wanton’, due to the aforesaid reason.
To be noted, that under Section 61 (1) of the Insolvency & Bankruptcy Code, 2016 provides time for ‘preferring’ an ‘Appeal’ by any ‘aggrieved person’, against the ‘impugned order’, passed by the ‘Adjudicating Authority’, is within ‘30 Days’, before the ‘Appellate Tribunal’ (National Company Law Appellate Tribunal). However, the ‘Appellate Tribunal’ may ‘allow’ the ‘Appeal’ preferred by the ‘Petitioner’ / ‘Appellant’, after the ‘lapse of 30 Days’ period, provided there was a ‘sufficient cause’, in not preferring the ‘Appeal’ and the same shall not ‘exceed’ further ‘15 Days’. In fact a ‘Party’ / ‘Stakeholder’, can prefer an ‘Appeal’ within the ‘Outer Limit’ of 30 + 15 = ‘45 Days’, prescribed under Section 61 (1) (2) of the Insolvency & Bankruptcy Code, 2016. In the instant case, the ‘Petitioner’ / ‘Appellant’ aggrieved to the ‘impugned order’ in MA/1433/2019 in CP/941/IB/2018, passed on 20.07.2020, by the ‘Adjudicating Authority’, (National Company Law Tribunal, Chennai Bench) came to be filed before this ‘Tribunal’ on 30.11.2022.
Considering the fact that there has occasioned a delay of ‘183 Days’, which is beyond the ‘prescribed period’, as envisaged under Section 61 of the Insolvency & Bankruptcy Code, 2016, this ‘Tribunal’, has ‘no power’ to condone the delay of ‘183 Days’.
Viewed in that perspective, the IA/1124/2022 in Comp App (AT) (CH) (Ins) No.444/2022 fails and the same is hereby ‘dismissed’. No Costs.
Consequent to the ‘dismissal’ of IA/1124/2022 in Comp. App. (AT) (CH) (Ins) No.444/2022, the main Comp. App. (AT) (CH) (Ins) No.444/2022 preferred by the ‘Appellant’ is not entertained and the same is ‘Rejected’. No Costs.