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2024 (12) TMI 746

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..... ied to be condoned merely because, he has not applied for the Certified copy within 30 days from the date of the Judgment and even the date of knowledge i.e. 19.08.2024 which was an issue dealt in the matters of V. Nagarajan V. SKS Ispat Power Limited [ 2021 (10) TMI 941 - SUPREME COURT (LB)] . Since the law provides the latitude for a complete exemption from supplying the Certified copy, failure to apply for the Certified copy within the prescribed period of limitation from the date of knowledge i.e. 19.08.2024, since applied only on 08.10.2024, may be fatal enough to deny condonation of delay and that too, in the circumstances of the instant case, where the Appeal has been preferred on 14.09.2024 i.e., it was beyond the upper 45 days of time period prescribed under the proviso to Sub Section 2 of Section 61 of the I B Code, 2016, if computed from the date of pronouncement of the Judgment. The Appellant will not be falling within the proviso to Sub Section 2 of Section 61 of the I B Code, 2016. Thus, the instant Appeal deserves rejection on the ground of limitation. Appeal dismissed. - [ Justice Sharad Kumar Sharma ] Member ( Judicial ) And [ Jatindranath Swain ] Member ( Techni .....

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..... ood allowed, by the learned NCLT, Hyderabad, by an Order dated 29.07.2024, with the following directions: In light of the above observations and discussion of the law, this Authority issues the following directions: i. M/s. Omkara Assets Reconstruction Private Limited and Bank of India, as first charge holders, are directed to tender the surplus amount of Rs.96.28 crores to the Liquidation Account. ii. The Liquidator is authorized to distribute the surplus amount among the secured financial creditors in proportion to their admitted claims, as detailed in paragraph 12 of the application. iii. M/s. Omkara Assets Reconstruction Private Limited and Bank of India are directed to reimburse costs amounting to Rs.90,70,048/- incurred for the protection and preservation of the Fixed Assets to the Liquidation Estate. Aggrieved by this Order, the Appellant has proceeded to file the instant Appeal. 3. According to the report of the Registry, the Company Appeal was e-filed on 14.09.2024. The Registry has reported that there is a delay of 16 days in filing the instant Appeal. 4. The Appellant has filed a Condone Delay Application being IA No. 1012 / 2024, praying for condonation of 16 days of de .....

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..... knowledge being 19.08.2024, it has to be construed that the appeal has been filed within the upper limit of limitation prescribed under Section 61 of the I B Code, 2016, and the delay of 16 days in filing the Appeal deserves to be condoned. 9. He further argues that, when law contemplates a grant of a complete exemption from filing the Certified copy of the Impugned Judgment under Rule 31, in that eventuality, applying for a Certified copy of the Judgment, within the prescribed period of limitation may not be strictly construed in relation to a person, who is not a party to the proceedings because the exemption in filing Certified copy, to file an Appeal, is complete in nature. 10. On the contrary, it is argued by the learned counsel for the Respondent that for the purposes of computing the limitation period for filing an Appeal under Section 61 of I B Code, 2016, factum of knowledge may not be taken as to be the yardstick, when the Certified copy is not applied within the prescribed period of limitation to be computed from the date of the Judgment. 11. He submits that in the light of the Judgment of the Principal Bench as reported in 2024 SCC OnLine NCLAT 383 - Deepak Dahyalal V. .....

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..... be condoned. 12. The Counsel for the Respondent submits that the inference drawn in Para 16 21 of the said Judgment has to be taken into consideration from the perspective that knowledge itself may not be taken as a reason for condonation of delay. 13. Having meticulously scrutinized the factual backdrop, it is seen that admittedly here, the knowledge of the Impugned Order was attributed on 19.08.2024 to the Appellant herein, who is not a party to the proceedings, that if the time taken to file the Appeal is contemplated to be determined from the date of knowledge, the Appeal filed by the Appellant, will be well within the proviso to Sub Section 2 of Section 61 of I B Code, 2016, and that, since, he was not a party to the proceedings and has sought for a complete exemption from filing the Certified copy of the Impugned Judgment by filing an Exemption Application i.e. IA No. 1010 / 2024, the delay in filing the Appeal can be denied to be condoned merely because, he has not applied for the Certified copy within 30 days from the date of the Judgment and even the date of knowledge i.e. 19.08.2024 which was an issue dealt in the matters of V. Nagarajan V. SKS Ispat Power Limited. 14. Th .....

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