https://www.taxtmi.com/caselaws?id=313636 NCLAT Chennai dismissed an appeal challenging rejection of condonation application for 49-day delay in filing claim under Form-C. The actual delay was 125 days, with additional 100-day delay in approaching the Adjudicating Authority. Appellant's sole ground of "seeking legal advice" was held insufficient cause for delay. NCLAT distinguished cited precedent involving homebuyers with Builder Buyer Agreements, noting different factual circumstances. Court emphasized IBC's time-bound nature as established by SC precedents, ruling that appellant failed to demonstrate substantial grounds for condonation of delay. en-us Mon, 29 May 2023 00:00:00 +0530 Fri, 26 Apr 2024 20:51:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313636 NCLAT Chennai dismissed an appeal challenging rejection of condonation application for 49-day delay in filing claim under Form-C. The actual delay was 125 days, with additional 100-day delay in approaching the Adjudicating Authority. Appellant's sole ground of "seeking legal advice" was held insufficient cause for delay. NCLAT distinguished cited precedent involving homebuyers with Builder Buyer Agreements, noting different factual circumstances. Court emphasized IBC's time-bound nature as established by SC precedents, ruling that appellant failed to demonstrate substantial grounds for condonation of delay. Case-Laws Insolvency and Bankruptcy Mon, 29 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313636