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TaxTMI 
TaxTMI 
TaxTMI 
2025 (12) TMI 1473
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....2.08.2025, which was rendered in CP(IB)No. 1559/9/HDB/2021. The company appeal is accompanied with the Condone Delay Application, being IA No. 1459/2025, where the Appellant has sought a condonation of 8 days of delay. The reason for seeking condonation of delay has been pleaded in para 3 (a) of the application filed in support thereto contending thereof that, the attorney of the Appellant who was supposed to file the company appeal was suffering from viral fever and hence he was incapacitated to file the company appeal within the prescribed time period. Considering the grounds taken in the application, coupled with the fact that there is no serious objection taken by the Respondent to the Condone Delay Application, and that the number of d....
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....) (c) of Insolvency and Bankruptcy Code, 2016 praying for a direction to exclude a time period from the date of the Interim Order passed by this Hon'ble Tribunal in I.A No. 960 of 2023 i.e., from 31.07.2023 till final order passed by the Hon'ble NCLT, Hyderabad bench on removal of ED Attachment against the company and properties dated 10.07.2024 in computing the fee of the Liquidator." To permit the Applicant to modify/amend the relief at Page-12 of I.A No. 1986 of 2024 with the following relief: "Pass an order/s directing the Respondent i.e,. State Bank of India to exclude the time period from the date of the Interim Order passed by this Hon'ble Tribunal in I.A No. 960 of 2023 i.e., from 31.07.2023 till final ....
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....sought for a permission for carrying out the amendments. In the application thus preferred, the Liquidator had sought a directions to the Respondent, State Bank of India to exclude the period 31.07.2023 (from the date of the interim order passed by the Ld. Tribunal on I.A No. 960 of 2023, that is, from 31.07.2023) till 10.07.2024 (the date of the final order by the Ld. NCLT Hyderabad Bench, on removal of the ED attachment as against the company and its property) for the purpose of computing the fee of the Liquidator. This application for amendment, being IA (IBC)/849/2025, which was preferred in IA (IBC) 1986/2024, has been allowed by the impugned Order. 8. The facts of the case are that is the 15th SCC meeting held on 13.09.2024, the Li....
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....024, had already directed the parties to file written submissions and posted the case on 21.01.2025 for hearing consideration of IA (IBC) 1986/2024 on its merit, consequent to which, the Ld. Tribunal had reserved its orders on IA (IBC) 1986/2024 on 04.03.2025 and has posted the same for the decision to be rendered on 10.03.2025. 10. The Appellant contends that, if at all any amendment was required to be made in IA (IBC) 1986/2024, it ought to have been made within the time period as it has been prescribed under Rule 155 of the NCLT Rules, 2016 that the Applicant had filed the amendment application much beyond the prescribed period under law, that is, 30 days from 04.11.2024, that the said amendment application was not maintainable, and t....
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....A (IBC) 1986/2024, thereby indirectly overcoming the inferences flowing from SCC decision dated 13.09.2024. 14. Besides that, he has contended that the Ld. Tribunal vide its earlier order of 26.09.2023 had already excluded 322 days from the liquidation period, and that the relief sought in the amendment application would not be tenable because it changes the very complexion of the entire controversy, as it was agitated in IA (IBC) 1986/2024, besides being barred by limitation. 15. The Ld. Tribunal has proceeded to allow the IA (IBC)/849/2025, by passing the impugned order, on the ground that period sought to be excluded from 12.09.2022 to 10.07.2024 was a factual error on part of the liquidator and that the correct period intended was....
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....ng recorded therein, it will render the order itself to be bad in the eyes of law. 17. Apart from the aspect of limitation which was one of the factors, required to be considered, the Ld. Tribunal has not applied its mind from the perspective that, whether the nature of the amendment, which has been sought by IA (IBC)/849/2025, will affect the nature of the application IA (IBC) 1986/2024, particularly in the context of the relief, which was sought therein and as to, what bearing will it have to the complexion of proceedings. 18. The finding recorded by the Ld. Tribunal with regards to the aspect of the delay, which has chanced in filing of the application for seeking an amendment, is seen to have been based on the logic that no materi....