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2022 (9) TMI 1064 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Operational Creditors - existence of debt and dispute or not - HELD THAT - In view of the facts and circumstances of the case and in the interest of justice, it is deemed appropriate to provide one last and final opportunity to the Applicant/Corporate Debtor to file the reply within 10 days from today - However, the aforesaid permission is subject to cost of Rs. 25,000/- to be deposited by the applicant herein in the Prime Minister's Relief Fund within 3 days. It is made clear that if cost is not deposited, the reply shall not be taken on record. Application disposed off.
Issues:
1. Recall of impugned order dated 24.05.2022 under Rule 11 of the NCLT Rules, 2016. 2. Delay in filing reply by the Corporate Debtor. 3. Request for one week's time to file the reply due to unavoidable circumstances. Issue 1: Recall of Impugned Order The Respondent, M/s. Skylark Infra Engineering Private Limited, sought the recall of the impugned order dated 24.05.2022 under Rule 11 of the NCLT Rules, 2016. The Applicant requested the Hon'ble Court to allow the reply of the Corporate Debtor along with supporting documents to be placed on record in the interest of justice. The Tribunal, after considering the submissions, granted one last opportunity to the Corporate Debtor to file the reply within 10 days, subject to a cost of Rs. 25,000/- to be deposited in the Prime Minister's Relief Fund within 3 days. It was clarified that failure to deposit the cost would result in the reply not being taken on record, thereby disposing of the application accordingly. Issue 2: Delay in Filing Reply The Operational Creditor, A2V Infra, had filed a petition under Section 9 of the IBC 2016 against the Corporate Debtor, M/s. Skylark Infra Engineering Private Limited. The impugned order dated 24.05.2022 highlighted the delay in filing the reply by the Corporate Debtor. Despite appearing in March 2021, the Corporate Debtor failed to file the reply, leading to the closure of the right to file the reply. The Applicant, representing the Corporate Debtor, explained the sequence of events leading to the delay, citing the onset of the second wave of the COVID-19 pandemic and unavoidable circumstances for not filing the Vakalatnama and reply promptly. The Tribunal considered the submissions and granted the final opportunity to file the reply, emphasizing the need to deposit the specified cost within the given timeline. Issue 3: Request for Extension Due to Unavoidable Circumstances The Applicant detailed various instances where the Corporate Debtor faced challenges in filing the reply, including health emergencies and unavoidable exigencies. The request for one week's time to file the reply was made due to compelling circumstances, such as the hospitalization of the counsel's father and the subsequent health issues faced. The Tribunal acknowledged the non-deliberate and unintentional nature of the delay caused by these unavoidable facts and circumstances. Consequently, the Tribunal decided to provide the final opportunity for filing the reply, subject to the specified cost to be deposited within the stipulated timeframe, ensuring that justice was served while considering the exceptional situations faced by the Corporate Debtor. This comprehensive analysis of the judgment before the National Company Law Tribunal, New Delhi Bench, highlights the key issues, submissions made by the parties involved, and the Tribunal's decision in each aspect, ensuring a detailed understanding of the legal proceedings and outcomes.
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