2019 (9) TMI 1373 - AT - Companies Law

Maintainability of application - time limitation - Appeal has been filed 26 days beyond the 30 days period for preferring the Appeal - Jurisdiction of Appellate Tribunal to entertain the appeal - HELD THAT - The Appeal has been filed 26 days beyond the 30 days period for preferring the Appeal and, therefore, this Appellate Tribunal has no jurisdiction to entertain the Appeal in terms of sub-section (2) of Section 61 of the Insolvency and Bankruptcy Code, 2016 (for short I B Code). Learned Counsel for the Appellant tried to explain the reasons for preferring the appeal after 56 days from the impugned order, i.e., 26 days beyond the 30 days period prescribed for filing the Appeal, but the question of condonation of delay does not arise. The learned Counsel for the Appellant submitted that they are the allottees. On the other hand, according to the learned Counsel for the Respondent the installment amount having been not paid by the Appellants in terms of the Agreement, the Agreement was cancelled in the year 2015 and the amount was refunded. Subsequently, the Appellants have moved before the Consumer Forum for refund of the said amount. Appeal dismissed.

Summary

The National Company Law Appellate Tribunal dismissed an appeal filed by the Appellants against an order by the Adjudicating Authority under Section 7 of the Insolvency and Bankruptcy Code, 2016. The appeal was filed 26 days beyond the 30-day period, making it ineligible for consideration. The Tribunal stated it had no jurisdiction to entertain the appeal and therefore dismissed it. The dispute involved the Appellants claiming to be allottees while the Respondent argued that the agreement was cancelled in 2015 due to non-payment of installments.