2021 (1) TMI 650

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....er (T) For the Appellant : S. Manjunath ORDER Ashutosh Chandra, Member (T) 1. I.A. No. 135 of 2020 in CP (CAA) No. 81/BB/2017 is filed by M/s. ObjectWin Technology India Private Limited (hereinafter referred to as 'Applicant/Demerged Company') under Rule 11 of the NCLT Rules, 2016 R/w Section 5 of the Limitation Act, 1963, by inter alia seeking to condone the delay of 569 days caused i....

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....nies. (2) On consideration of the same, the Tribunal vide its Common Order dated 26th April, 2018 allowed the said Petition and a Corrigendum dated 05.07.2018 was also issued to the said Order. Further, vide the said Order, it is directed that the Petitioner Companies shall file a certified copy of the same to the Registrar of Companies, Karnataka within thirty days from the date of receipt of t....

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....s prayed that the said delay be condoned in delivering the said Order along with Corrigendum. 3. Heard Mr. S. Manjunath, learned Counsel for the Applicant through Video Conference (VC). We have carefully perused the pleadings of the Party and the extant provisions of the Companies Act, 2013 and the Rules made thereunder. 4. Mr. S. Manjunath, learned Counsel for the Applicant, has inter alia subm....

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....cations and solutions, would benefit by having a separate identity, its own capital and human resource management, focussed leadership, etc., which would be hampered if the delay prayed for is not condoned. As per the learned Counsel the delay has occurred due to inadvertence. In order that the Demerged and Resulting Companies can avail the benefits of the Scheme, it would be just and fair to cond....