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Judgment
I.A. No. 2939 of 2024
This application is filed under Rule 31 of the National Company Law Appellate Tribunal Rules, 2016, seeking condonation of delay in payment of penalty imposed by the order dated 04.11.2022 passed in Comp. App. (AT) (Ins.) No. 642 of 2022.
It is submitted the Comp. App. (AT) (Ins.) No. 642 of 2022 was disposed of on 04.11.2022 and the order dated 18.04.2022 of the Learned Adjudicating Authority was set aside. However, this Tribunal had imposed a penalty of Rs. 25 Lakhs upon M/s. Rudra Buildwell Constructions Private Limited through its owner Sh. Rajkumar, to be paid within a month by Bank Draft drawn in the name of Pay and Accounts Officer, Ministry of Corporate Affairs.
The application for extension of time was filed and the extension of one month was granted by order dated 12.12.2022.
The Judgment dated 04.11.2022 was taken in appeal before the Hon’ble Supreme Court, but the appeal was also dismissed, hence this application.
It is submitted the amount of penalty was substantial and since the Applicant was facing financial difficulties, the delay was caused. Nevertheless, now the funds are with the Applicant and he is inclined to deposit demand draft of Rs. 17 Lakhs qua the penalty.
Let the Bank Draft be deposited within three days from today in the name of Pay and Accounts Officer, Ministry of Corporate Affairs.
The application is disposed of.