2025 (12) TMI 506 - SC - IBC

Fresh Appeal Permitted on Reconstructed Record in s.42 IBC Limitation Dispute Over Liquidator's Claim Rejection

Joint Commissioner of Commercial Taxes and GST, C.T & GST Circle, Cuttack-I, East, Orissa Versus Anuradha Bisani Liquidator of M/s. Lanco Infratech Ltd.

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 ... Rejection of claim of the Appellant - barred by limitation - absence of proof of claim - it was held by NCLAT that 'Admittedly, the claim of the Appellant stood rejected by the Liquidator as back as on 24.11.2020 and if at all, the Limitation prescribed under Section 42 of the Code is taken into consideration, filing of a claim on 16.07.2023, was barred by limitation and the same could not have been entertained.' HELD THAT:- This civil appeal is disposed off by reserving liberty to the appellant herein to reconstruct the file in the appeal filed earlier before the National Company Law Tribunal (NCLT). If the file is reconstructed and re-filed before the NCLT within a period of four weeks from today, the same shall be entertained and disposed of 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.