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Judgment
18.03.2025:
I.A. No. 1514 of 2025:- This is an application praying for condonation of 15 days’ delay in filing the appeal. Reasons given in subparagraph (III) are sufficient for condonation of 15 days’ delay in filing the Appeal. Delay is condoned.
Company Appeal (AT) (Insolvency) No. 403 of 2025:-
This Appeal has been filed against the order dated 17.12.2024 passed by the Adjudicating Authority (National Company Law Tribunal) New Delhi Bench (Court-II) rejecting RA No. 51 of 2024 which was filed in C.P. (IB) No. 860/ND/2020. Application filed by the Appellant under Section 7 was dismissed as infructuous by order dated 15.07.2021. Appellant filed the Restoration Application after more than 2 ½ years seeking restoration of the Company Petition which was dismissed on 15.07.2021. Adjudicating Authority rejected the said application observing that no grounds have been made out to revive the Company Petition after 2 ½ years.
We do not find any error in the impugned order passed by the Adjudicating Authority refusing to revive the Company Petition. We, however, observe that the rejection of the Restoration Application shall not preclude the Appellant to file a fresh application in accordance with law.
Subject to liberty aforesaid, Appeal is dismissed.