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2022 (8) TMI 1321 - AT - Insolvency and BankruptcyTime limitation for filing appeal - limitation should be computed from the date of knowledge of the Order or not - HELD THAT - In so far as the submission of Learned Counsel for the Appellant that the Tribunal was closed from 06.06.2022 and it reopened on 04th July, 2022 hence the Appeal is within time filed on the reopening day, suffice it to say that by notification dated 01st June, 2022 issued by this Tribunal for summer vacation, filing of the Appeal was permitted through both e-filing and physical filing, hence the Tribunal was not closed for filing to give any benefit of summer vacation to the Appellant for computation of limitation. Whether the computation of limitation for filing the Appeal has to be from the date of knowledge of the Appellant as claimed or limitation begins from the date of passing of the order by the Adjudicating Authority? - HELD THAT - The question which has been raised in the present Appeal is no more res integra. Hon'ble Supreme Court in the matter of V Nagarajan Vs. SKS Ispat and Power Limited Ors 2021 (10) TMI 941 - SUPREME COURT while construing period of limitation under Section 61 of the IBC has held that the period of limitation of 30 days for filing the Appeal shall commence from the date when order was pronounced by the Adjudicating Authority and Applicant is entitled to exclude the time which is taken for obtaining certified copy of the Order. In the present case, the Appeal could have been filed within limitation till 06th June, 2022 and this Tribunal could have condoned only 15 days delay. The Appeal having been filed on 04th July, 2022 and delay being beyond 15 days is not condonable. Appeal dismissed.
Issues:
1. Condonation of delay in filing the Appeal against the Order dated 05th May, 2022 passed by National Company Law Tribunal. 2. Computation of limitation for filing the Appeal - Date of knowledge of the Appellant vs. date of passing of the order by the Adjudicating Authority. Issue 1 - Condonation of Delay: The Appellant filed an application for Condonation of Delay in filing the Appeal against the Order dated 05th May, 2022. The Appellant argued that the Appeal was filed within 30 days from the date the Appellant received the copy of the Impugned Order, which was sent by the Liquidator. However, the Respondent contended that the Appeal was filed beyond 30 days and after about 60 days, exceeding the condonation limit of 15 days as permitted by Section 61 of the Insolvency and Bankruptcy Code, 2016. The Tribunal noted that the Appeal was filed on 04th July, 2022, beyond the condonable delay period, and hence dismissed the Delay Condonation Application. Issue 2 - Computation of Limitation: The key question was whether the computation of limitation for filing the Appeal should start from the date of knowledge of the Appellant or from the date of passing of the order by the Adjudicating Authority. The Hon'ble Supreme Court clarified in previous judgments that the period of limitation for filing an Appeal under the Insolvency and Bankruptcy Code commences from the date when the order was pronounced by the Adjudicating Authority. The Court emphasized that the time taken by the Court to provide the appellant with a certified copy should be excluded from the limitation period. The Court highlighted that the IBC mandates diligence on the part of aggrieved parties to file appeals promptly without awaiting a free copy. The Court rejected the argument that limitation should start from the date of knowledge of the Appellant, emphasizing the need for timely resolution and adherence to the statutory limitation periods. Conclusion: The Tribunal, guided by the Supreme Court judgments, dismissed the Appeal as it was filed beyond the permissible delay period. The Court emphasized the importance of adhering to statutory limitation periods in filing appeals under the Insolvency and Bankruptcy Code, starting from the date of pronouncement of the order by the Adjudicating Authority. The Tribunal's decision was based on the established legal principles laid down by the Hon'ble Supreme Court, ensuring timely compliance with statutory provisions.
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