9911796707
TMI Blog2019 (10) TMI 375X X X X Extracts X X X X X X X X Extracts X X X X ..... otherwise, the cause shown in filing the appeal with the delay of 175 days does not appear to be a sufficient for seeking condonation of delay, as no medical certificate of any ailment is placed on record. The reasons given are general in nature and not supported with any documentary evidence. Therefore, no case is made out for condonation of delay of 175 days in filing the appeal under the Provisions of Section 42 of the I B Code, 2016. The rejection of claim stand dismissed. - MA/259/2019 And MA/260/2019 filed in TCP/413/(IB)CB/2017 - - - Dated:- 10-7-2019 - CH. MOHD. SHARIEF TARIQ, MEMBER (JUDICIAL) For The Applicant : Mr S. Kannam For The Respondent/Liquidator : Mr Vasudevan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 18 to December, 2018 had been affected by jaundice and its relapse and added that the age related ailments have virtually immobilized him up to the 2nd week of February, 2019 and immediately on recovery from the ill-health, the Applicant approached the Counsel, who advised him to make an Application to this Tribunal for reviewing the unjust and unlawful decision of the Respondent/Liquidator and this appeal is filed after lapse of 175 days and prayed to condone the delay on the said ground(s). 6. In the reply, the Liquidator for the Company has stated that the Books of the Corporate Debtor show an amount of ₹ 10,91,970/- as due and payable to the Applicant as reflected from the ASP accounting package available with the C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y to him, as the Liquidator is not even able to meet out the liquidation cost. The assets are already given as collaterals to the secured Financial Creditors, who have decided to opt out of the liquidation process. 9. The provisions of Section 42 of the IBC, 2016, stipulate that a Creditor may appeal to the Adjudicating Authority against the decision of the Liquidator either accepting or rejecting the claim within 14 days of receipt of the decision. The time period fixed appears to be mandatory for filing the appeal, and therefore the delay of 175 days cannot be condoned. Even otherwise, the cause shown in filing the appeal with the delay of 175 days does not appear to be a sufficient for seeking condonation of delay, as no m ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
