2023 (7) TMI 547

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....is filed by the Appellant under Rule 31 of the NCLT Rules, 2016 seeking Condonation of Delay of 14 days in filing of the Appeal. Counsel for the Appellant has submitted that the Impugned Order was passed on 03.02.2023 and though they were not party to the litigation but came to know about the Impugned Order on the very next day i.e., 04.02.2023. It is also averred in the Application that the delay has been caused as the Applicant had to collect relevant papers from various Regional Offices. 2. We have heard Counsel for the Appellant and perused the record. 3. Section 61 of the Insolvency and Bankruptcy Code, 2016, (for short `The Code') deals with Appeals and Appellate Authority. Section 61 (1) provides for a Statutory Right to Appeal....

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....by the resolution professional during the corporate insolvency resolution period; (iii) the debts owed to operational creditors of the corporate debtor have not been provided for in the resolution plan in the manner specified by the Board; (iv) the insolvency resolution process costs have not been provided for repayment in priority to all other debts; or (v) the resolution plan does not comply with any other criteria specified by the Board. (4) An appeal against a liquidation order passed under section 33, or sub-section (4) of section 54L, or subsection (4) of section 54N, may be filed on grounds of material irregularity or fraud committed in relation to such a liquidation order. (5) An....