2017 (3) TMI 1901 - Tri - Companies Law

Seeking condonation of delay of 441 days in filing restoration application - HELD THAT - There are enough materials on record requiring this court to condone the delay in preferring the connected restoration application. The prayer for condonation of delay is accepted - Application disposed off.

Summary

Issues: Condonation of delay in filing restoration application

The judgment delivered by the National Company Law Tribunal, Guwahati Bench, involved a case concerning the condonation of delay in filing a restoration application. The applicant's counsel argued that the delay of 441 days was due to reasons beyond the applicant's control. The counsel cited the decision of the Supreme Court in Perumon Bhagvathy Devaswom case, emphasizing that the acceptability of the explanation for delay is crucial. The applicant detailed the circumstances leading to the delay, including lack of information and inadvertence. The applicant's board of directors passed a resolution authorizing steps for restoration upon learning of the dismissal of the company petition. The applicant contended that the delay was unintentional and beyond their control, causing prejudice to various parties. After reviewing the submissions and the ROC report, the Tribunal found sufficient grounds to condone the delay and granted the prayer for condonation. The application was disposed of accordingly.

This judgment showcases the importance of providing a valid explanation for delay in legal proceedings and highlights the significance of demonstrating circumstances beyond one's control. The Tribunal's decision underscores the need for thorough documentation and justification when seeking condonation of delay in filing applications before the court.