2005 (9) TMI 311 - HC - Companies Law

Summary

Issues: Delay in filing the appeal under Section 35 of the Foreign Exchange Management Act, 1999.

The judgment addresses the issue of a delay of 122 days in filing an appeal under Section 35 of the Foreign Exchange Management Act, 1999. The appellant argued that the delay was less than 122 days due to the late receipt of the order of the Tribunal. However, the court highlighted that Section 35 restricts the court's jurisdiction to condone delays exceeding 120 days from the date of the order. The section allows for an appeal to be filed within 60 days, with a provision to extend the period by another 60 days on showing sufficient cause. The court emphasized that the appellant's application clearly indicated a delay of 122 days, making it impossible to argue otherwise. The court rejected the request to amend the application and consequently dismissed the appeal due to the delay.

In conclusion, the judgment underscores the importance of adhering to the statutory timelines for filing appeals under the Foreign Exchange Management Act, 1999. It clarifies the court's limited jurisdiction to condone delays beyond the stipulated period and emphasizes the need to comply with the statutory provisions without room for discretionary extensions beyond the prescribed limits.