2026 (4) TMI 700

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....al has been filed by Mr Anurag Gupta, the Appellant, who is the personal guarantor of M/s. MBS Impex Private Limited, the Corporate Debtor. He seeks to challenge the impugned order dated 08.05.2025 rendered by Ld. Adjudicating Authority in IA/2106/2024 in CP(IB) 141/95/HDB/2022, by virtue of which Ld. Adjudicating Authority allowed the application preferred by Respondent-1, the Financial Creditor, M/s. Rare Assets Reconstruction Limited and appointed Respondent No. 2 as Bankruptcy Trustee for the Appellant. 2. The company appeal is accompanied by an application IA/1106/2025, where the Appellant has prayed for condonation of delay of 15 days, in filing the appeal. He has submitted that the order was pronounced on 08.05.2025, that he came ....

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....iled with a delay of 15 days if it is calculated from 24.06.2025, which is within the condonable period as prescribed by the proviso to Section 61(2) of the Code and has accordingly prayed that the delay of 15 days in filing the Appeal may be condoned. 5. The appeal was first taken up on 13.08.2025 and notices were issued to the Respondents. The Respondents have appeared before this Appellate Tribunal on 02.09.2025 and submitted that they will be filing counter to the said application for condonation of delay. Subsequently they filed their counter to delay, which was taken on record. 6. The Respondents have vehemently objected to the prayer for condonation of delay on the ground that the Appellant was a party to the proceedings in whi....

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....imitation period will end on 06.06.2025, additional 15-day period will end on 21.06.2025, the certified copy of the impugned order was applied only on 09.06.2025 and the appeal was filed only on 07.07.2025, which is well outside the period including the condonable period prescribed under Section 61 of the Code and since, no exclusion is permissible, the appeal is clearly barred by limitation, having been filed after the expiry of 45 days. 7. Perusal of the records show that the Appellant has not given a single reason in his pleadings as to why there was a delay in filing the appeal beyond the limitation period. It appears that as if he has taken the proceedings for granted that condonation of 15 days of delay can automatically be granted....