Promoter's Appeal Dismissed Due to Delay in Admitted Dues Case

The application under Section 7 of the Insolvency and Bankruptcy Code, 2016, was admitted by the impugned order. The appeal by the Promoter offering to pay admitted dues to the Financial Creditor was dismissed due to a delay of 112 days, as the Appellate Tribunal lacked jurisdiction to condone the delay. The matter involving HDFC Bank and Home Buyers under Section 12A was presented, but the Tribunal refrained from expressing an opinion on the initial order. If the Section 12A application is not entertained, it may provide a fresh cause of action for the Appellant to challenge the earlier order.

---

---

Issues:
1. Admission of application under Section 7 of the Insolvency and Bankruptcy Code, 2016.
2. Appeal by the Promoter offering to pay admitted dues to the Financial Creditor.
3. Matter involving HDFC Bank and Home Buyers under Section 12A.
4. Jurisdiction of the Appellate Tribunal to condone delay in appeal filing.
5. Potential cause of action for the Appellant if Section 12A application is not entertained.

Analysis:
1. The judgment pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by an individual against a Corporate Debtor, which was admitted by an impugned order dated 10th January, 2019.

2. The appeal in question was filed by the Promoter, who expressed willingness to pay the admitted dues to the Financial Creditor. However, the appeal was lodged after a delay of 112 days, and the Appellate Tribunal noted that it lacked jurisdiction to condone the delay as per the proviso to sub-section (2) of Section 61.

3. The counsel for the Appellant highlighted that HDFC Bank and other Home Buyers had addressed the issue under Section 12A and subsequently sought withdrawal of the application under Section 7 of the I&B Code before the Adjudicating Authority in Bengaluru. This context was presented as part of the appeal proceedings.

4. Due to the jurisdictional limitation on condoning the delay in filing the appeal, the Appellate Tribunal refrained from expressing any opinion on the impugned order dated 10th January, 2019. The appeal was ultimately dismissed as barred by limitation, with no costs imposed.

5. Notably, the judgment indicated that if the application under Section 12A is not entertained by the Adjudicating Authority, it could potentially provide a fresh cause of action for the Appellant to challenge the earlier order. This aspect was highlighted as a possible avenue for future legal recourse depending on the development of the Section 12A application.

---