2024 (1) TMI 404 - SCH - Insolvency and Bankruptcy

Condonation of delay beyond the maximum period - HELD THAT - There is a delay beyond the maximum period that can be condoned in terms of the provisions of Section 62 of the Insolvency and Bankruptcy Code 2016 - the appeal not entertained since it is barred by limitation. Since the Civil Appeal has been dismissed on the ground of limitation, it needs to be only clarified that this will not come in the way of the appellant pursuing its claim in the pending arbitration proceedings - The Civil Appeal is dismissed on the ground of delay.

Summary

The Supreme Court dismissed a Civil Appeal due to delay beyond the condonable period under Section 62 of the Insolvency and Bankruptcy Code 2016. The dismissal does not affect the appellant's pursuit of their claim in pending arbitration proceedings.