Appeal dismissed; financial corporate respondent's insolvency petition held within limitation period and declared timely filed The SC dismissed the appeal, upholding NCLAT's finding that the company petition filed by Respondent No. 1 (the financial corporate respondent) before the ...
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Appeal dismissed; financial corporate respondent's insolvency petition held within limitation period and declared timely filed
The SC dismissed the appeal, upholding NCLAT's finding that the company petition filed by Respondent No. 1 (the financial corporate respondent) before the Adjudicating Authority was within the limitation period and not time-barred. The Court found no merit or grounds to interfere with the impugned NCLAT order and therefore affirmed the adjudicatory conclusion that the petition was timely, resulting in dismissal of the appeal.
"Delay condoned." The Court declined to disturb the "impugned judgment/order passed by the National Company Law Appellate Tribunal," finding "no good ground and reason to interfere" with that order. Consequently, "The appeal is, accordingly, dismissed." All pending application(s), if any, "shall stand disposed of." The decision is strictly appellate: condonation of delay was granted as a procedural matter, but on merits the Supreme Court affirmed the NCLAT's disposition and refused to entertain any substantive interference.
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