https://www.taxtmi.com/caselaws?id=789155 A 14-day delay in filing the appeal was condoned because the delay fell within the condonable period and the explanation was found reasonable. On the substantive issue, a deposit made as interim security in insolvency proceedings was not permitted to be retained indefinitely for a possible future arbitration dispute absent initiation of arbitration. By consent, the deposit was continued only until either party initiates arbitration, and protection against disconnection of electricity was maintained meanwhile. The impugned direction was therefore modified to align the security arrangement with the arbitral mechanism. en-us Fri, 13 Mar 2026 00:00:00 +0530 Sat, 04 Apr 2026 08:53:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789155 A 14-day delay in filing the appeal was condoned because the delay fell within the condonable period and the explanation was found reasonable. On the substantive issue, a deposit made as interim security in insolvency proceedings was not permitted to be retained indefinitely for a possible future arbitration dispute absent initiation of arbitration. By consent, the deposit was continued only until either party initiates arbitration, and protection against disconnection of electricity was maintained meanwhile. The impugned direction was therefore modified to align the security arrangement with the arbitral mechanism. Case-Laws IBC Fri, 13 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789155