Fresh Appeal Permitted on Reconstructed Record in s.42 IBC Limitation Dispute Over Liquidator's Claim Rejection SC considered an appeal against NCLAT's affirmation of the Liquidator's rejection of the appellant's claim as time-barred under s.42 of the IBC. Without ...
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Fresh Appeal Permitted on Reconstructed Record in s.42 IBC Limitation Dispute Over Liquidator's Claim Rejection
SC considered an appeal against NCLAT's affirmation of the Liquidator's rejection of the appellant's claim as time-barred under s.42 of the IBC. Without pronouncing on the merits of limitation or the underlying claim, SC disposed of the civil appeal by granting liberty to the appellant to reconstruct and re-file the earlier appeal before NCLT. SC directed that, if the appeal file is reconstructed and re-presented before NCLT within four weeks, NCLT shall entertain and decide it in accordance with law.
The Supreme Court condoned the delay in filing the present civil appeal but chose to dispose of it by granting specific liberty to the appellant. The Court permitted the appellant "to reconstruct the file" in the appeal previously filed before the National Company Law Tribunal (NCLT). It directed that, if the reconstructed file is re-filed before the NCLT within four weeks from the date of the order, "the same shall be entertained and disposed of in accordance with law." The Court further clarified that the "dismissal of the belated appeal impugned in this appeal would not come in the way" of exercising this liberty. All pending applications, including for impleadment or intervention, were disposed of.
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