The NCLAT rejected the application for condonation of 121 days' ...

Condonation plea rejected for 121-day delay in refiling appeal due to negligence, undermining IBC objectives.

December 10, 2024

Case Laws IBC AT

The NCLAT rejected the application for condonation of 121 days' delay in refiling the company appeal. The Tribunal held that the applicant failed to demonstrate sufficient cause for the delay, which was found to be intentional, deliberate, and due to negligence. The reasons cited, such as the ill-health of a clerk and receiving duplicate emails/SMS from the Registry, were deemed facile and unsatisfactory. The applicant was found to be casual, callous, careless, and negligent in refiling the appeal on time. The Tribunal emphasized the need for prompt and time-bound resolution under the Insolvency and Bankruptcy Code (IBC) and refused to condone the inordinate delay, as it would dilute the objectives of the IBC.

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The NCLAT rejected the application for condonation of 121 days' ...

Condonation plea rejected for 121-day delay in refiling appeal due to negligence, undermining IBC objectives.

December 10, 2024

Case Laws IBC AT

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