2022 (10) TMI 810

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....he 'Appellant' / 'Petitioner' (Operational Creditor), the 'Impugned Order' was passed on 21.07.2022, in IA No.295/2020 in CP(IB)No.510/9/HDB/2019 by the 'Adjudicating Authority' (National Company Law Tribunal, Hyderabad Bench-II) and a 'Certified Copy' of the said 'Order' was not despatched to the 'Appellant' / 'Petitioner' / 'Operational Creditor' and the 'Certified Copy' of the 'Order' was made ready on 01.08.2022. 3. From the date of the 'Pronouncement' of the 'Impugned Order' dated 21.07.2022 in IA No.295/2020 in CP(IB)No.510/9/HDB/2019, the 'Appellant' / 'Petitioner' (Operational Creditor), is to prefer an 'Appeal' before the 'Appellate Tribunal', as an 'Aggrieved Person' within '30 Days', as per Section 61 (2) of the Insolvency & B....

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....70/2022 before this 'Tribunal' on 09.09.2022, assuming that only from 01.08.2022, the 'Limitation Period' is to commence and hence, the 'Appeal' is maintainable in 'Law', as contended by the Learned Counsel for the 'Appellant', in an emphatic manner. 7. Rule 150 of NCLT Rules, 2016 enjoins the 'Pronouncement of Orders' by the 'Tribunal'. Rule 150 (3) of the Rules, 2016 'speaks' of furnishing 'Certified Copy of every Order' passed by the 'Tribunal' to be given to the 'Parties'. 8. More importantly, Section 421 (3) of the Companies Act, 2013 provides that 'Every Appeal' under Sub-Section (1) shall be filed within a period of forty-five days from the date on which a copy of the 'Order' of the 'Tribunal' is made available to the person ag....

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....rements of Rule 22(2) of the NCLAT Rules. Section 12(2) of the Limitation Act allows for an exclusion of the time requisite for obtaining a copy of the decree or order appealed against. It is not open to a person aggrieved by an order under the IBC to await the receipt of a free certified copy under Section 420(3) of the Companies Act 2013 read with Rule 50 of the NCLT and prevent limitation from running. Accepting such a construction will upset the timely framework of the IBC. The litigant has to file its appeal within thirty days, which can be extended up to a period of fifteen days, and no more, upon showing sufficient cause. A sleight of interpretation of procedural rules cannot be used to defeat the substantive objective of a legislati....