Application for 125-day delay condonation denied due to gross negligence and lack of sufficient cause under IBC

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....NCLAT dismissed the applicant's application for condonation of 125 days' delay in refiling the appeal, holding that the applicant failed to demonstrate sufficient cause. The tribunal found the asserted registry errors and purported confusion over a power of attorney unsubstantiated, concluding the repeated refilings evidenced gross negligence and lack of diligence rather than unavoidable circumstances. Routine corrections (POA substitution, renumbering, bookmarks) were deemed not time-consuming, and litigant negligence cannot be excused to thwart procedural compliance. Given the statutory time-bound object of the IBC and the need for finality, the balance of convenience and equity did not favour the applicant, and the condonation petition was rejected.....