2023 (5) TMI 200

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....eal (AT) (Insolvency) No. 1224 of 2022 under Section 61 of the Insolvency and Bankruptcy Code, 2016 being aggrieved and dissatisfied by the order dated 18.07.2022 passed by National Company Law Tribunal, Kolkata Bench, Kolkata in I.A. (IBC) No. 69/KB/2021 in C.P. (IB) No. 932/KB/2018, whereby the application filed by the Resolution Professional was allowed and Respondent Nos. 1 & 2 were jointly and/or severely directed to pay a sum of Rs. 72.45 crores on account of payments made to the related parties from the account of the Corporate Debtor. Further, in the event of their failure to pay the aforesaid amount, the Resolution Professional would be free to initiate appropriate action against the Respondents. 2. Aggrieved by the impugned ord....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the Reply), therefore, it has been submitted by Counsel for the Respondent that the Appellants came to know about the impugned order on 19.07.2022, i.e. the very next day of the passing of the impugned order.. 5. The Learned Counsel for the Respondent also relied on judgment of the Hon'ble Supreme Court in the case of "V. Nagarajan Vs. SKS Ispat and Power Limited & Another reported in (2022) 2 SCC 244, para 33", in which the Hon'ble Supreme Court has held as under: "33. The answer to the two issues set out in Section C of the judgement- (i) when will the clock for calculating the limitation period run for proceedings under the IBC; and (ii) is the annexation of a certified copy mandatory for an appeal to the NCLAT against an or....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....onsidered the submissions of Learned Counsel for the parties and perused the record. 7. Section 61 of the Code deals with the appeals and appellate authority. Section 61 of the Code is reproduced as under:- "Section 61: Appeals and Appellate Authority.- (1) Notwithstanding anything to the contrary contained under the Companies Act 2013, any person aggrieved by the order of the Adjudicating Authority under this part may prefer an appeal to the National Company Law Appellate Tribunal. (2) Every appeal under sub-section (1) shall be filed within thirty days before the National Company Law Appellate Tribunal: Provided that the National Company Law Appellate Tribunal may allow an appeal to be filed after the expiry ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ly affidavit and during the course of argument, he has pleaded that although impugned order was passed on 18.07.2022 by National Company Law Tribunal, Kolkata Bench, Kolkata in I.A. (IBC) No. 69/KB/2021 in C.P. (IB) No. 932/KB/2018 but the said order was communicated to Appellants through email on 19.07.2022 (Annexure-A at page 18 of the Reply), therefore, it has been submitted by Counsel for the Respondent that the Appellants came to know about the impugned order on 19.07.2022. 9. The impugned order was passed on 18.07.2022 and the instant Appeal was filed on 13.09.2022 with delay of about 54 days. The Appellant applied for certified copy of the order on 26.07.2022 and received on 27.07.2022 even if the time consumed obtaining certified....