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2024 (5) TMI 331 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , CHENNAI - LBSeeking to Condone Delay of 14 days in filing the Appeal - Sufficient cause for delay or not - HELD THAT:- It is seen that the Respondent has at least offered the index of the typed set of papers annexed to the Appeal before NCLAT and the Application filed before NCLT to support his contention. On the other hand, the Appellant has not shown a single document which as per his claim took a long time to trace and collect. This makes to come to the conclusion that ‘sufficient cause’ has not been demonstrated to merit condonation of delay of 14 days beyond the 30-day period. The Appellant has cited a number of decisions of Hon’ble Supreme Court to support his plea that a liberal approach be adopted for condonation of delay even in matters arising under the IBC. In this matter, it is said that the objective of IBC is to ensure timely resolution of insolvency and accordingly provisions have been put in place including strict timelines for the legal and administrative processes and therefore, adopting a liberal approach, needless to say, will defeat the objectives of the Code and will run counter to the view expressed in V NAGARAJAN VERSUS SKS ISPAT AND POWER LTD. & ORS. [2021 (10) TMI 941 - SUPREME COURT]. The Company Appeal is not ‘entertained’, and hereby ‘Rejected’.
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