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Issues: Whether the delay in filing the appeal before the Tribunal ought to have been condoned under Section 61(2) of the Insolvency and Bankruptcy Code, 2016.
Analysis: The delay in preferring the appeal had not been condoned by the Tribunal. On perusal of the application for condonation of delay and the explanation offered, the Court found that the delay was within the permissible period contemplated by Section 61(2) of the Insolvency and Bankruptcy Code, 2016 and that the Tribunal should have condoned it.
Conclusion: The delay was directed to be condoned and the matter was remitted to the Tribunal to hear the appeal in accordance with law.
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