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SC upholds refusal to condone delay in appeal filing under Section 421(3) of Companies Act, 1956

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....The SC upheld the NCLAT's refusal to condone the delay in filing an appeal under Section 421(3) of the Companies Act, 1956, finding no sufficient cause to excuse the inordinate delay beyond the statutory limitation period. The Court affirmed that the proviso to Sub-Section (3) does not permit such condonation absent justifiable reasons. Consequently, the appeal challenging the NCLAT's order dismissing the condonation application was dismissed, thereby sustaining the finality of the impugned decision.....

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SC upholds refusal to condone delay in appeal filing under Section 421(3) of Companies Act, 1956