https://www.taxtmi.com/caselaws?id=460489 NCLAT dismissed the appeal, rejecting the condonation of delay application. The tribunal held that Section 14 of the Limitation Act cannot be applied to extend the limitation period beyond the strict mandate of Section 61(2) of the IBC, as the Code contains self-contained provisions with overriding effect. The 45-day delay exceeded the permissible limit under the proviso. Additionally, the tribunal ruled that judicial directions cannot compel withdrawal of CIRP proceedings under Section 12A, as this decision lies solely with the applicant, and forcing withdrawal would violate constitutional rights under Articles 14 and 21. en-us Wed, 18 Dec 2024 00:00:00 +0530 Tue, 28 Jan 2025 18:56:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460489 NCLAT dismissed the appeal, rejecting the condonation of delay application. The tribunal held that Section 14 of the Limitation Act cannot be applied to extend the limitation period beyond the strict mandate of Section 61(2) of the IBC, as the Code contains self-contained provisions with overriding effect. The 45-day delay exceeded the permissible limit under the proviso. Additionally, the tribunal ruled that judicial directions cannot compel withdrawal of CIRP proceedings under Section 12A, as this decision lies solely with the applicant, and forcing withdrawal would violate constitutional rights under Articles 14 and 21. Case-Laws IBC Wed, 18 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460489