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Issues: Whether the delay of 176 days in refiling the appeal against proceedings under Section 9 of the Insolvency and Bankruptcy Code, 2016 should be condoned and the appeal restored.
Analysis: The appeal arose from dismissal of the company appeal by the appellate tribunal on the ground of delayed refiling. Although the impugned order was found difficult to fault, the Court granted relief in the peculiar facts and circumstances of the case and preserved the costs already imposed by the forums below as well as the additional costs imposed by the Court.
Conclusion: The delay was condoned, the impugned order was set aside, and the appeal was restored to its original number for proceedings in accordance with law.
Final Conclusion: The appellant obtained procedural relief enabling the challenge to the Section 9 proceedings to be heard on merits, subject to payment of costs.
Ratio Decidendi: Delay in refiling may be condoned and an appeal restored in the peculiar facts of a case notwithstanding adverse findings on conduct, where the Court considers it just to afford one opportunity to pursue the appeal on merits.