9911796707
TMI Blog2023 (5) TMI 200X X X X Extracts X X X X X X X X Extracts X X X X ..... nd that is the reason for delay in filing of the present appeal. HELD THAT:- The impugned order was passed on 18.07.2022 and the instant Appeal was filed on 13.09.2022 with delay of about 54 days. The Appellant applied for certified copy of the order on 26.07.2022 and received on 27.07.2022 even if the time consumed obtaining certified copy of the order is excluded, the Appeal has been filed beyond the limitation period. This Tribunal has power to condone the delay is only of 15 days. The Counsel for the Appellant sought to contend that the Limitation will start running when the Order is communicated to the Appellant. The said submission cannot be accepted. The Order was passed on the Application filed by the Resolution Professional and fro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2 with a prayer to condone the delay of 13 days in filing the present Appeal in which he has stated the reason that the order was communicated and the certified copy of the impugned order dated 18.07.2022 was received by the Appellants on 27.07.2022. The Appellants are resident of Kolkata and after receiving the judgment and order dated 18.07.2022, they searched for lawyers to prepare, file the present appeal and represent the Appellants before this Hon'ble Court. Because of the sudden rise of corona cases in Delhi and Kolkata, the Appellants were restrained from travelling and thus, could not complete the required process in time and that is the reason for delay in filing of the present appeal. 3. On the other hand, the Learned Counsel fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al regime, given that the IBC is a Code in itself and has overriding effect. Sections 61(1) and (2) of the IBC consciously omit the requirement of limitation being computed from when the "order is made available to the aggrieved party", in contradistinction to Section 421(3) of the Companies Act. Owing to the special Company Appeal (AT) (Insolvency) No. 1224 of 2022 & IA No. 3727 of 2022 3 of 3 nature of the IBC, the aggrieved party is expected to exercise due diligence and apply for a certified copy upon pronouncement of the order it seeks to assail, in consonance with the requirements of Rule 22(2) of the NCLAT Rules. Section 12(2) of the Limitation Act allows for an exclusion of the time requisite for obtaining a copy of the decree or or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such period shall not exceed fifteen days. (3) An appeal against an order approving a resolution plan under section 31 may be filed on the following grounds, namely:-- (i) the approved resolution plan is in contravention of the provisions of any law for the time being in force; (ii) there has been material irregularity in exercise of the powers by the resolution professional during the corporate insolvency resolution period; (iii) the debts owed to operational creditors of the corporate debtor have not been provided for in the resolution plan in the manner specified by the Board; (iv) the insolvency resolution process costs have not been provided for repayment in priority to all other debts; or (v) the resolution plan does no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unsel for the Appellant sought to contend that the Limitation will start running when the Order is communicated to the Appellant. The said submission cannot be accepted. The Order was passed on the Application filed by the Resolution Professional and from the date when the order was pronounced, limitation shall start running. There is no ground to condone the delay. 10. Keeping in view of the aforesaid facts and in view of the judgment of "V. Nagarajan Vs. SKS Ispat and Power Limited & Another reported in (2022) 2 SCC 244, para 33 (supra)", the instant appeal is time barred in as much as it has been filed beyond the period of limitation. 11. I.A. No. 3727 of 2022 (Delay Condonation Application) is dismissed. Consequently, the Memo of Appe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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