2023 (3) TMI 591

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..... According to the Petitioner/Appellant, the instant Company Appeal (AT)(CH)(Ins) No. 49 of 2023 is preferred before this 'Tribunal', being aggrieved with the 'Impugned Order' dated 26.03.2021 passed by the 'Adjudicating Authority' in I.A. No.87 of 2020 in Company Petition No. (IB) 08/9/HDB/2019. The Learned Counsel for the 'Petitioner'/'Appellant' submits that the 1st Respondent on 23.02.2021 had informed the 'Petitioner'/'Appellant' that the 2nd Respondent had submitted a 'Resolution Plan' and the 'Committee of Creditors' had approved the same and preferred an application before the 'Adjudicating Authority' seeking approval of 'Resolution Plan' and hence the claim filed by the 'Appellant' cannot be considered at this stage and the same....

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....s per Section 14 of the Limitation Act. The Learned Counsel for the 'Petitioner'/'Appellant' refers to the following tabular Form: Period for exclusion Particular No. of days 26.03.2021 - 11.05.2021 Period between approval of Resolution Plan by AA and Filing of the Application IA/262/2021 46 days (period covered under SC order on exclusion of limitation) 11.05.2021 - 09.03.2022 Period between filing of application IA/262/2021 till date of disposal 302 days and submits that the instant Company Appeal is preferred with a bona fide intention, in the interest of justice and at the earliest available opportunity by the 'Appellant'. Be it noted that Section 6(1) and (2) of the Insolvency and Bankruptcy Code rea....

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....ainst a liquidation order passed under section 33 may be filed on grounds of material irregularity or fraud committed in relation to such a liquidation order." From the above, ingredients of Section 61(1) and (2) of the Insolvency and Bankruptcy Code, in person being aggrieved in respect of order passed by the 'Adjudicating Authority' is to prefer an 'Appeal' before this 'Appellate Tribunal' within 30 days and this means from the date of pronouncement of the concerned orders. However, in the instant Case, admittedly according to the 'Petitioner'/'Appellant', the 'Petitioner' seeks to condone delay of 289 days from 10.03.2022 till 23.12.2022 in preferring the instant Company Appeal and also seeks for an exclusion of 302 days between 11.05....