TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Supreme Court Reinstates Delay Condonation Application; Further Proceedings Set for 2025 Hearing at NCLAT.</h1> The SC overturned the NCLAT's judgment, granting the appeal and reinstating the application for condonation of delay. The case is scheduled for further ... Dismissal of application for condonation of delay of 17 days on the ground that delay only up to a period of 15 days can be condoned under the proviso to Section 61(2) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- By order dated 29.04.2024, while issuing notice, it was recorded that 29.07.2023 was a gazetted holiday and 30.07.2023 was a Sunday and the appeal was preferred on 31.07.2023. It is also brought to notice that the appellant, Bhupendra Jivrajbhai Surani, had applied for a certified copy of the judgment/order dated 14.06.2023 on 27.06.2023 and the same was prepared and delivered on 30.06.2023. Hence, the total period which has to be excluded for computation of limitation would be 5 days. This being correct, the period of delay in the filing of the appeal would be about 12 days, which is within the condonable limit of 15 days. The error made in the impugned judgment passed by the NCLAT, as is apparent, had arisen on account of the fact that in the application for condonation of delay, the above facts were not mentioned, and delay of 17 days was sought to be condoned - the application for condonation of delay should be decided on merits. The matter will be listed before the NCLAT on 29.01.2025, when the next date of hearing will be fixed. If required, the NCLAT will issue notice to the respondent - Appeal allowed. The Supreme Court set aside the NCLAT judgment and allowed the appeal, restoring the application for condonation of delay. The matter will be listed before the NCLAT on 29.01.2025 for further proceedings.
TaxTMI 
TaxTMI 
