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The SC upheld the NCLAT's refusal to condone the delay in filing an appeal under Section 421(3) of the Companies Act, 1956, finding no sufficient cause to excuse the inordinate delay beyond the statutory limitation period. The Court affirmed that the proviso to Sub-Section (3) does not permit such condonation absent justifiable reasons. Consequently, the appeal challenging the NCLAT's order dismissing the condonation application was dismissed, thereby sustaining the finality of the impugned decision.
The SC upheld the NCLAT's refusal to condone the delay in filing an appeal under Section 421(3) of the Companies Act, 1956, finding no sufficient cause to excuse the inordinate delay beyond the statutory limitation period. The Court affirmed that the proviso to Sub-Section (3) does not permit such condonation absent justifiable reasons. Consequently, the appeal challenging the NCLAT's order dismissing the condonation application was dismissed, thereby sustaining the finality of the impugned decision.
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