Condonation of refiling delay refused where repeated defects, lack of diligence and vague explanations defeated the appeal against resolution plan app...
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Admission under the Insolvency and Bankruptcy Code (section reference omitted) was contested on date-of-default and limitation grounds but the dispute turned on an executed MOU, acknowledged receipt of funds, continuous failure to perform, and an arbitral award rendered as an executable decree. The award's finality and enforceability was treated as operative for limitation (a subsequent suo motu writ order was invoked in support). Non appearance and ex parte proceedings before the arbitral forum and tribunal informed findings on the corporate debtor's conduct and intention, and the appellate challenge was dismissed as lacking merit.
Admission under the Insolvency and Bankruptcy Code (section reference omitted) was contested on date-of-default and limitation grounds but the dispute turned on an executed MOU, acknowledged receipt of funds, continuous failure to perform, and an arbitral award rendered as an executable decree. The award's finality and enforceability was treated as operative for limitation (a subsequent suo motu writ order was invoked in support). Non appearance and ex parte proceedings before the arbitral forum and tribunal informed findings on the corporate debtor's conduct and intention, and the appellate challenge was dismissed as lacking merit.
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