Time to file Appeal in NCLAT against Order of Adjudicating Authority

This Article discusses Time Period for Filing of Appeal in National Company Law Appellate Tribunal (NCLAT) against the order of adjudicating authority in the light of Section 62(2) of Insolvency and Bankruptcy Code, 2016 and NCLAT Judgments in the case of Steam Amod Amladi V/s. Mrs. Sayali Rane & Anr and Nityanand Singh and Co. V/s Ferrous Infrastructure Pvt. Ltd. 

Factual Background:

I. Appellant claims to be investor of CD. Appellant alleging initiation of CIRP by Mumbai bench of NCLT u/s 9.

II. Appellant earlier made application in NCLT Mumbai Bench to recall the order dated 2^nd May, 2017.

III. NCLT: Adjudicating authority rejected the prayer by impugned order dated 3^rdOctober, 2017 on the ground that NCLT has no power to recall the order or dismiss the petition after admission.

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