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TMI Blog2023 (2) TMI 141X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 424 of the Companies Act, 2013, provides that in disposing of any Proceeding, the Tribunal (Adjudicating Authority / NCLT) and the Appellate Tribunal (NCLAT), shall be guided by the Principles of Natural Justice, and subject to the other provisions of this act (or of Insolvency and Bankruptcy Code, 2016 (31 of 2016) and of any Rules, made thereunder. Further, the Tribunal (NCLT) and the Appellate Tribunal (NCLAT) do have Power, to regulate to their own procedure. This Tribunal, on a consideration of the entire conspectus of the attendant facts and circumstances of the instant case, keeping in mind that the Petitioner / Appellant, had initiated Legal Proceedings, in an Inappropriate Forum, the ingredients of Section 14 of the Limitation Act, 1963, gets attracted, applying the same, and taking note of the instant Comp. Appeal, was filed by the Petitioner / Appellant, on 13.08.2022, well within the Limitation Period, accordingly, disposes of the instant IA No. 89 of 2023. Application disposed off. - IA No. 89 of 2023 in Company Appeal (AT) (CH) (INS.) No. 443 of 2022 - - - Dated:- 3-2-2023 - [Justice M. Venugopal] Member (Judicial) And [Shreesha Merla] Member (Tech ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Application (IA No. 89 of 2023), vide main Appeal Paper Book Physical Copy Diary No. 807 dated 13.08.2022 ), but no supporting Affidavit , is filed by the Petitioner / Appellant , and for want of supporting Affidavit , the IA No. 89 of 2023 in Comp. App (AT) (CH) (INS.) No. 443 of 2022, is to be dismissed , by this Tribunal . 5. The Respondent in Counter to IA No.89 of 2023, in Comp. App (AT) (CH) (INS.) No 443 of 2022, had averred that a vague and a frivolous reason , is mentioned by the Petitioner / Appellant , that the Appeal , could not be filed within the Statutorily Mandated Period , because it was facing some financial issues , due to the sudden turn of Economic Events , caused by the Russian Ukraine War . In short, the contention of the Respondent is that, No Sufficient Cause or Ground or Reason , is mentioned in IA No. 89 of 2023 in the instant Appeal , seeking to Condone the Delay of 15 days , in preferring the Appeal . 6. The Learned Counsel for the Respondent proceeds to point out that in the decision of the Hon ble Supreme Court of India, in B.K. Educational Services Pvt. Ltd. v. Parag Gupta Associates and Ors., it is observed that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sum , deposited by it stood forfeited, by virtue of the Order of the Adjudicating Authority ( Tribunal ). Apart from that, the Petitioner / Appellant , again filed an Application (vide Diary No. 3305118016882022), which was dismissed by the Adjudicating Authority , on 10.08.2022, against which, the Petitioner / Appellant , has preferred the instant Comp. App (AT) (CH) (INS.) No. 438 of 2022 . 11. The Learned Counsel for the Respondent, adverts to the fact that the Petitioner / Appellant , had moved the Hon ble High Court of Madras , by filing a Writ Petition No. 24262 of 2022, assailing the Order dated 29.06.2022, passed by the Adjudicating Authority ( National Company Law Tribunal , Special Bench I, Chennai) in IA(IBC)/512(CHE)/2022 in TCP/95/IB/2017, and the same was dismissed , on 24.11.2022. 12. The Learned Counsel for the Respondent, refers to Paragraphs 5 and 10 of the Order dated 24.11.2022, passed by the Hon ble High Court of Madras in W.P. No. 24262 of 2022, which run as under: 5. Mr. Omprakash, the learned Senior Counsel for the petitioner submitted that: (a) the appellate remedy available to the petitioner was not pursued because he was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 02 August 2022 Mentioning for urgent listing of application 03 August 2022 Bench did not assemble. Accordingly, the application was not listed and heard 04 August 2022 Hon ble NCLT heard the Appellant and directed to modify the Application 04 August 2022 Amended Application for modification was filed 08 August 2022 Mentioning for urgent listing of application 09 August 2022 Holiday on account of Muharram 10 August 2022 Amended Application for modification was listed 13 August 2022 Appeal was e-filed 45 Period to be excluded due to order being available (3) Period to be excluded under Section 14 of the Limitation Act, 1963 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 238-A of the I B Code, 2016 (Inserted by Act 26 of 2018, S.34 (w.r.e.f..6-6-2018). 17. Although, the Petitioner/Appellant , seeks umbrage under Section 14 of the Limitation Act, 1963, for the time spent in Bona fide Litigious Activity , in a given Proceeding(s) , the fact of the matter is that the Petitioner / Appellant , has preferred the instant Comp. App (AT) (CH) (INS.) No. 443 of 2022 on 13.08.2022. 18. In response, the Learned Counsel for the Respondent contends that the benefit of Section 14 of the Limitation Act, 1963, is inapplicable , to the Petitioner /Appellant , because of the fact the Petitioner / Appellant , had taken recourse to some proceedings, before the Adjudicating Authority ( NCLT ), etc., since the proper course of action for the Petitioner / Appellant is that, it should have preferred an Appeal , before this Tribunal (under Section 61 (1) of the I B Code, 2016), against the impugned order dated 29.06.2022 in IA(IBC)/512(CHE)/2022 in TCP/95/IB/2017, as an Aggrieved Person , within 30 days , from the date of Pronouncement of the Order , by the Adjudicating Authority ( NCLT ). Also that, there is no Sufficient Cause / G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in TCP / 95 / IB / 2017 on 13.08.2022 (vide Filing No.: 9805118 / 01737 / 2022), on the File of the Adjudicating Authority ( National Company Law Tribunal , Special Bench I, Chennai). 26. To be noted, that the Petitioner / Appellant , ought to have filed the instant Company Appeal , being Aggrieved , against the impugned order dated 29.06.2022, in IA(IBC)/512(CHE)/2022 in TCP/95/IB/2017, within 30 days , from the date of passing of the said Order , by the Adjudicating Authority ( Tribunal ), as per Section 61 (2) of the I B Code, 2016. Further, if Sufficient Cause , is furnished by a Person / Party , in not Preferring an Appeal within 30 days time , as adumbrated by the Code , the Appellate Tribunal ( NCLAT ), while exercising its sound Judicial discretion , may permit an Appeal , to be preferred as per the expiry / lapse of prescribed 30 days time, on being satisfied as to the Sufficient Cause , projected by the Person / Party , as the case may be. 27. As regards the Plea taken on behalf of the Respondent that IA No. 89 of 2023 in the instant Comp. App (AT) (CH) (INS.) No. 443 of 2022, was filed by the Petitioner / Appellant , without ..... 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