Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
NCLAT dismissed applications for condonation of delay in refiling Company Appeals involving 210 and 213 days delay. The Tribunal found no sufficient cause for the extensive delay, determining the Appellant's explanation as manufactured and lacking genuineness. Emphasizing the time-sensitive nature of Insolvency and Bankruptcy Code proceedings, the Tribunal held that substantial justice cannot be achieved by granting unwarranted delay extensions. The applications were rejected, underscoring the critical importance of timely procedural compliance and the need for credible explanations when seeking delay condonation.
NCLAT dismissed applications for condonation of delay in refiling Company Appeals involving 210 and 213 days delay. The Tribunal found no sufficient cause for the extensive delay, determining the Appellant's explanation as manufactured and lacking genuineness. Emphasizing the time-sensitive nature of Insolvency and Bankruptcy Code proceedings, the Tribunal held that substantial justice cannot be achieved by granting unwarranted delay extensions. The applications were rejected, underscoring the critical importance of timely procedural compliance and the need for credible explanations when seeking delay condonation.
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