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2021 (6) TMI 160 - Tri - Insolvency and BankruptcyRestoration of main application - condonation of delay of 326 days in filing of this present restoration application - condonation of delay of 03 days in filing of the Main Application - HELD THAT - The cause shown for the delay in filing of the instant application appears to be genuine and bona fide. There is no inaction or negligence or want of bona fide. The delay is purely on the part of formalities which are to be mandatorily undertaken by the Applicant. Thereby, it causes delay of 326 days in filing the instant application for restoration of IA 140 of 2020. It is pertinent to mention herein that there was also delay of 3 days in filing of IA 140 of 2020 for which the Applicant has already made a prayer for condonation, as such the same will be considered at the time of adjudication of IA 140 of 2020 - Instant application is allowed by condoning the delay of 326 days. Application allowed.
Issues Involved:
Delay in filing restoration application for IA No. 140 of 2020 in C.P. (IB) No. 196 of 2017. Analysis: The Applicant filed an application for restoration of IA No. 140 of 2020, which was dismissed for non-prosecution on 20.02.2020. The restoration application was filed on 16.02.2021, causing a delay of 326 days. The delay was attributed to the transfer of the concerned officer of the State Tax Department, resulting in the unawareness of the dismissal. The new officer took necessary steps upon learning about the dismissal, leading to the delay in filing the restoration application. The delay was due to formalities that required approval from higher authorities, consuming time. The Tribunal noted that the delay in filing the restoration application was genuine and bona fide, with no negligence or inaction on the part of the Applicant. Referring to previous Supreme Court observations, a liberal approach was adopted in condoning delays if sufficient cause was shown to advance substantial justice. The delay of 3 days in filing IA No. 140 of 2020 was also acknowledged, and a prayer for condonation was made, to be considered during the adjudication of IA No. 140 of 2020. Considering the circumstances, the Tribunal allowed IA No. 131 of 2021 by condoning the delay of 326 days. The Registry was directed to restore IA No. 140 of 2020 and list it on 15.03.2021. Consequently, IA No. 131 of 2021 was allowed and disposed of.
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