2026 (1) TMI 277

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....r. Vivek Rajan D.b., Adv., Mr. Hemant Gupta, Adv. ORDER 1. These appeals, filed under Section 62 of the Insolvency and Bankruptcy Code, 2016 ["IBC"], assail the order dated 20.10.2023 in Company Appeal (AT)(CH)(INS) No. 326 of 2023 and the order dated 21.06.2024 in I.A. No. 528 of 2024 in Company Appeal (AT)(CH)(INS) No. 326 of 2023, passed by the National Company Law Appellate Tribunal ["NCLAT"], Chennai. 2. The appellant, M/s. Afita Constructions Pvt. Ltd. ["ACPL"], being an operational creditor, initiated the corporate insolvency resolution process against the corporate debtor, Neoaska Pharma Private Limited, under Section 9 of the IBC, in Company Petition IB No. 241/2021 before the National Company Law Tribunal ["NCLT"], Hydera....

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....Chennai, against the said order. This appeal was rejected on the ground of delay, vide order dated 22.01.2024. 5. Earlier, by common order dated 20.10.2023, the NCLAT, Chennai, had dismissed Company Appeal (AT)(CH)(INS) No. 326 of 2023 and Company Appeal (AT)(CH)(INS.) No. 331 of 2023 filed by the appellant, ACPL, against the common order dated 28.06.2023 of the NCLT, Hyderabad Bench-1, dismissing its Intervention Petition (IBC) No. 7/2022 and I.A.(IBC) No. 1410/2022. 6. Aggrieved by this common order of dismissal dated 20.10.2023 passed by the NCLAT, Chennai, the appellant, ACPL, filed Civil Appeal Nos. 6402-6403/2024 before this Court. It filed a separate appeal, being Civil Appeal (Diary) No. 6745/2024, against the order dated 22.0....

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....d senior counsel, appearing for ACPL, Mr. S. Niranjan Reddy, learned senior counsel, appearing for MPWMPL, and Mr. Krishna Dev Jagarlamudi, learned counsel, appearing for the Resolution Professional, we must first note certain crucial facts. 11. The appellant, ACPL, did not choose to file an appeal within time against the order dated 28.06.2023 passed by the NCLT, Hyderabad Bench-1, approving the resolution plan of MPWMPL. The appeal that it filed belatedly came to be dismissed on that short ground and it attained finality, as the civil appeal preferred against the said order was withdrawn by the appellant, ACPL, be it for whatever reason. In effect, the order dated 28.06.2023 passed by the NCLT, Hyderabad Bench-1, approving the resoluti....