2019 (1) TMI 1864 - AT - Insolvency and Bankruptcy

Maintainability of application - initiation of CIRP - whether Adjudicating Authority had no jurisdiction to decide claim and counter claim? - HELD THAT - On merit, there may be some prima facie case made out for issuance of notice to hear the other side but in view of the fact that impugned order was passed by the Adjudicating Authority on 23rd July, 2018and certified coy was delivered on 24th August, 2018 and the appeal having filed on 8th January, 2019 i.e. beyond 45 days (30 days period for filing an appeal plus 15 days further period which can be condoned by this Appellate Tribunal), we hold that we have no jurisdiction to condone the delay in terms of Sub-section (2) of Section 61 of the I B Code. The appeal is dismissed being barred by limitation.

Summary

The appeal was filed by the Proprietor of 'K. D. Trading' against the rejection of the application under Section 9 for Corporate Insolvency Resolution Process against 'Simplex Infrastructure Ltd.' The Adjudicating Authority's decision was upheld due to the appeal being filed beyond the allowed time frame, resulting in dismissal.