TaxTMI 
TaxTMI 
2023 (11) TMI 828
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.... Krishnan Ravi & Mr. Tushar Nagar, Advocates for R1 Mr. Vivek Reddy, Sr. Advocate For Mr. Raunak Dhillon, Mr. Madhav Kanoria, Ms. Surabhi Khattar& Mr. Ashutosh Singh, Advocates for R2 ORDER ( Virtual Mode ) This appeal is directed against the order dated 10.08.2023, passed by the National Company Law Tribunal, Hyderabad Bench -II, by which IA No. 156 of 2023 filed in CP (IB) No. 184/7/HDB/2019 by the Resolution Professional for approval of the Resolution Plan submitted by the Vedanta Ltd. (Resolution Applicant) approved by the CoC of the Meenakshi Energy Ltd. (Corporate Debtor) with a majority of right enforced by 94.96% by way of e-voting has been allowed. India Power Corporation Ltd. (Appellant) has filed the present appeal un....
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.... under: "61. Appeals and Appellate Authority. - (1) Notwithstanding anything to the contrary contained under the Companies Act 2013 (18 of 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 of the said period of thirty days if it is satisfied that there was sufficient cause for not filing the appeal but such period shall not exceed fifteen days. (3) An appeal against an orde....
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.... in terms of Section 61 (1) has to be filed within the period of 30 days. Section 61 (2) proviso further allows the appellant 15 days time to file the appeal even after expiry of the period of 30 days, if it satisfies the Appellate Authority that there was a sufficient cause for not filing the appeal but such period shall not exceed 15 days. Thus, the literal interpretation of the aforesaid provision of Section 61 (1) (2) and proviso is that the appeal is a statutory right for which the period of 30 days is provided which can further be extended for another fifteen days subject to assigning of a sufficient cause to the satisfaction of the Appellate Authority for not filing the appeal within the period of 30 days but no appeal can be filed a....
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....thin the period of limitation prescribed and a delay has occurred a right would vest in the other side and for the purposes of condonation of delay a plausible excuse much less sufficient cause has to be made which may satisfy the conscious of the Appellate Authority. In the present case, however, the appellant has given the reason that the appeal within 30 days (prescribed period) could not be filed and also till the last day of extended period (15th day) could not be filed i.e. after considering the entire period of 45 days, because the appellant was in consultation with its Counsel and internal management with respect to the impugned order and its ramifications. The issue is as to whether both the things that is consultation with the Cou....