Tribunal allows appeal despite late filing, directs amendment of Liquidator's name in appeal memo.

The Tribunal condoned the 15-day delay in filing the appeal, accepting the Petitioner's explanation for the delay. The appeal was considered to have been filed within the permissible time period, and the Tribunal allowed the appeal to proceed to a hearing scheduled for 26.06.2023. The Appellant was directed to amend the name of the current Liquidator in the memo of appeal.

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Issues Involved:
1. Delay in filing the appeal.
2. Computation of the limitation period.
3. Exclusion of time for obtaining a certified copy.
4. Authority to condone the delay.

Summary:

Issue 1: Delay in Filing the Appeal
The Petitioner/Appellant contended that the 14-day delay in filing the appeal was neither willful nor wanton but due to internal approvals and continuous travel of the approving authority. The Respondent argued that the appeal, filed on the 46th day, exceeded the permissible limit under Section 61(2) of the IBC, 2016, which allows a maximum of 45 days (30 days plus 15 days for sufficient cause).

Issue 2: Computation of the Limitation Period
The Petitioner/Appellant referred to the Supreme Court judgment in Sanket Kumar Agarwal & Anr. v. APG Logistics Pvt. Ltd., which clarified that the time requisite for obtaining a copy of the order should be excluded while computing the period of limitation. The Respondent countered that the limitation period should be computed from the date of the order, not the date of knowledge.

Issue 3: Exclusion of Time for Obtaining a Certified Copy
The Tribunal noted that the certified true copy of the impugned order was made ready on 02.02.2023, and the appeal was filed on 19.03.2023, which falls within the permissible 45-day period when excluding the time taken to prepare the order.

Issue 4: Authority to Condon the Delay
The Tribunal acknowledged that under Section 61(2) of the IBC, 2016, an appeal must be filed within 30 days, extendable by 15 days for sufficient cause. The Tribunal referred to the Supreme Court judgment in V Nagarajan v. SKS Ispat & Power Ltd & Ors., which emphasized that delay beyond this period cannot be condoned.

Conclusion:
The Tribunal condoned the 15-day delay, accepting the Petitioner's explanation for the delay due to internal approvals and travel. The appeal was deemed to have been filed within the permissible time period. Consequently, the Tribunal allowed IA No. 378 of 2023 and directed the Registry to list the main appeal for hearing on 26.06.2023. The Appellant was also instructed to amend the name of the present Liquidator in the memo of appeal.

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