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Issues:
Challenge to order condoning delay in filing charge particulars under Companies Act. Analysis: The appeal challenged an order passed by the Company Law Board condoning the delay in filing particulars of charge in Forms Nos. 8 and 13 and granting an extension of time. The appellant-company executed a deed of assignment for certain rights of immovable property but failed to file charge particulars, leading respondent No. 1 to do so under Section 125 of the Companies Act. The Registrar required the company to approach the Board due to a delay of over sixty days. Respondent No. 1 applied for condonation of delay and extension of time, which was resisted by the appellants on various grounds. The Board, after considering the matter, condoned the delay and granted the extension. Legal Arguments: The appellant's counsel contended that the Registrar lacked jurisdiction to entertain charge particulars from respondent No. 1 after a specific date and that the delay was wrongly calculated by the Board. He also argued that the Board delved into issues regarding the validity of the assignment deed, which was beyond its scope. On the other hand, respondent No. 1's counsel focused on the Board's jurisdiction under Section 141 and defended the condonation granted, stating that the appellant did not resist it on solid grounds. Judgment: The Court noted that the appellant did not raise substantial objections to the condonation of delay and primarily concentrated on the validity of the assignment deed. It upheld the Board's order, stating that there was no basis for interference. However, it clarified that any observations made by the Board on the merits of the issues, including the interpretation of the deed terms, would not impact any future registration proceedings. The Court directed the Registrar to proceed independently, considering relevant provisions of the Companies Act and allowing parties to present their views without influence from the Board's observations.
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