2021 (1) TMI 1293 - SCH - Companies Law

Condonation of delay of 166 days - Section 423 of the Companies Act 2013 - HELD THAT - Under the provisions of Section 423, this Court is empowered to condone a delay (beyond the original period of limitation of 60 days) only to the extent of a further period of 60 days. Hence, since the appeal has been filed beyond the maximum period that can be condoned under the proviso to Section 423, the appeal cannot be entertained and is accordingly dismissed on the ground of limitation. It only needs to be clarified that the order of the NCLAT, which had come to the conclusion that there was a violation of the principles of natural justice in adhering to the provisions of Section 272(4) of the Companies Act 2013, will not come in the way of the appellant taking recourse to the remedies available in law after following due process. Application disposed off.

Summary

The Supreme Court dismissed the appeal under Section 423 of the Companies Act 2013 due to a delay of 166 days, beyond the condonable period. The Court clarified that the appellant can seek remedies after following due process despite the dismissal. Pending applications were disposed of.