Anjaniputra Ispat Ltd Vs IAG Company Ltd. (NCLAT Delhi)
Summary: The National Company Law Appellate Tribunal, Principal Bench, New Delhi rejected Company Appeal (AT) No. 39 of 2026 filed by Anjaniputra Ispat Ltd. and the connected Company Appeal (AT) (Ins) No. 1874 of 2025, holding that the limitation applicable to an appeal under Section 421 of the Companies Act, 2013 had to be independently determined from the date on which the Section 421 appeal was actually instituted. The Tribunal also rejected the accompanying delay condonation applications.
The appellant had initially challenged an order dated 08.09.2025 by filing Company Appeal (AT) (Ins) No. 1874 of 2025 on 20.11.2025 under Section 61 of the Insolvency and Bankruptcy Code, 2016. The appeal sought condonation of 53 days’ delay. The Tribunal noted, however, that the impugned proceedings arose under Sections 433(E) and 433(F) of the Companies Act, 1956 and that the appellate jurisdiction under Section 61 of the I&B Code was therefore unavailable. The appeal filed under Section 61 was consequently held to be void ab initio and not maintainable.
On 29.01.2026, while considering I.A. No. 440 of 2026, the Tribunal permitted the appellant to convert the existing appeal into an appeal under Section 421 of the Companies Act, 2013 by amending the memo of appeal. The appellant instead filed a fresh Section 421 appeal on 30.01.2026 and again sought condonation of delay.
