Avoidance application timelines under IBC Regulation 35A is not mandatory: Delhi HC

Tata Steel BSL Limited Vs Venus Recruiter private Limited & Ors (Delhi High Court) Delhi High Court held that timelines under Regulation 35A of the CIRP Regulations, 2016 for filing avoidance application are directory and not mandatory in nature. Facts- The present Letters Patent Appeals have been filed by Tata Steel BSL Ltd. and the Union of India impugning the Judgment and Order dated 26.11.2022 (Impugned Judgment) rendered in W.P.(C) No. 8705 of 2019 titled Venus Recruiters Pvt. Ltd. vs. Union of India & Ors., wherein the Ld. Single Judge inter-alia held that an application filed u/...