https://www.taxtmi.com/caselaws?id=752278 The NCLAT Chennai rejected a company appeal seeking condonation of 14-day delay in filing beyond the statutory 30-day period. The appellant failed to produce documentary evidence supporting claims that document collection caused delay, while respondent provided indexed papers. The tribunal declined to adopt a liberal approach for delay condonation in IBC matters, emphasizing that strict timelines are essential for timely insolvency resolution and that liberal condonation would defeat the Code's objectives, citing V Nagarajan v SKS Ispat precedent. en-us Fri, 03 May 2024 00:00:00 +0530 Tue, 07 May 2024 07:28:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752278 The NCLAT Chennai rejected a company appeal seeking condonation of 14-day delay in filing beyond the statutory 30-day period. The appellant failed to produce documentary evidence supporting claims that document collection caused delay, while respondent provided indexed papers. The tribunal declined to adopt a liberal approach for delay condonation in IBC matters, emphasizing that strict timelines are essential for timely insolvency resolution and that liberal condonation would defeat the Code's objectives, citing V Nagarajan v SKS Ispat precedent. Case-Laws Insolvency and Bankruptcy Fri, 03 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752278