9911796707
TMI Blog2024 (9) TMI 568X X X X Extracts X X X X X X X X Extracts X X X X ..... Adjudicating Authority (National Company Law Tribunal, Mumbai Bench) by which a company petition bearing CP (IB) No. 314/MB/2023 filed by Canara Bank under Section 7 of the Insolvency and Bankruptcy Code (in short 'Code') read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (in short 'Rules') for the initiation of Corporate Insolvency Resolution Process (in short 'CIRP') against M/s Vas Infrastructure Ltd., for the default of an amount of Rs. 301,06,84,507.23/-, has been admitted and Ashok Kumar Golechha was appointed as the Interim Resolution Professional. 2. This appeal is filed by the society under Section 61 of the Code alleging that the Corporate Debtor has mortgaged the land on which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... but from the date of pronouncement of the order, secondly, the Appellant cannot plead ignorance about the order dated 11.03.2024 because the Appellant was present before the Tribunal as it had filed the intervention application, thirdly, the Court does not have the jurisdiction to condone the delay beyond the period of 15 days whereas in the present case, the appellant has approached this court beyond the period of 15 days after excluding the statutory period of 30 days available to it and lastly the public announcement was made about the CIRP on 13.03.2024, therefore, the Appellant had the deemed knowledge. In support of his submissions, he has relied upon a decision of the Hon'ble Supreme Court in the case of M/s PRS Infrastructure Ltd. V ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ingh, learned senior counsel appearing on behalf of the appellant has, as such, fairly conceded that considering Section 61(2) of the IB Code, the Appellate Tribunal has jurisdiction or power to condone the delay not exceeding 15 days from the completion of 30 days, the statutory period of limitation. However, has requested and prayed to condone the delay in exercise of powers under Article 142 of the Constitution of India, in the facts and circumstances of the case and submitted that the amount involved is a very huge amount and that the appellant is a public body. We are afraid what cannot be done directly considering the statutory provisions cannot be permitted to be done" 9. In reply to the judgment relied upon by the appellant, in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase the appeal is not filed within a period of 30 days then it can still be filed within a further period of 15 days by assigning sufficient cause for not filing the appeal within 30 days and lastly, the period of 15 days cannot be extended at any cost. 13. Undisputedly, the Appellant has made the prayer for condonation of delay of 50 days in filing the appeal, meaning thereby, if the limitation period is counted from the date of passing of the order i.e. 11.03.2024 and it is to be counted from the next day i.e. 12.03.2024 then it would come to 80 days till it is filed on 31.05.2024. Thus, besides statutory period of 30 days, the Appellant has consumed another 50 days for filing the appeal though there is a window of only 15 days for consi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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