CLB Lacked Power to Condon Delay Under Companies Act 2013: SC

Property Company (P) Ltd. Vs Rohinten Daddy Mazda (Supreme Court of India) CLB Has No Power to Condon Delay Under Section 58(3) of the Companies Act, 2013 Prior to Section 433 Coming into Force The Supreme Court examined whether the Company Law Board (CLB) had the authority to condone delay in filing an appeal under Section 58(3) of the Companies Act, 2013 during the transitional phase when the 2013 Act had come into force but the NCLT/NCLAT were not yet constituted. The appeal in question was filed with a delay of 249 days, which the CLB condoned by invoking its inherent powers and by applyin...