2017 (11) TMI 1679

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....ilable to appellant on 28th June, 2017 whereinafter the appeal was preferred on 28th July, 2017. Inspite of the same the Registry of the Appellate Tribunal had not registered the matter on the ground of delay and after an order passed by the Registrar of this Appellate Tribunal, the case was registered. In the facts and circumstances aforesaid we hold that there is no delay in preferring the appeal. 2. This appeal has been preferred by the appellant against the order dated 25th May, 2017 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi (hereinafter referred as the "Tribunal") in C.P. No.(IB)(108)(PB)/2017. By the impugned order the Tribunal rejected the application under Section 9 preferred b....

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.... Adjudicating Authority may give opportunity to the Applicant to explain the delay within a reasonable period to find out whether there are any laches on the part of the Applicant. 71. The stale claim of dues without explaining delay, normally should not be entertained for triggering 'Corporate Insolvency Resolution Process' under Sections 7 and 9 of the 'I&B Code'. 72. However, the aforesaid principle for triggering an application under Section 10 of the 'I&B Code' cannot be made applicable as the 'Corporate Applicant' does not claim money but prays for initiation of 'Corporate Insolvency Resolution Process' against itself, having defaulted to pay the dues of creditors. In so far it relates to ....