Korah John Vs JM Financial Asset Reconstruction Company Ltd. (NCLAT Chennai)
The case of Korah John vs. JM Financial Asset Reconstruction Company Ltd. revolves around an appeal filed against an order of the National Company Law Tribunal (NCLT), Kochi Bench, in the matter of an insolvency resolution. The appeal was initially dismissed by the National Company Law Appellate Tribunal (NCLAT), Chennai, on the grounds of being time-barred, as it was filed beyond the prescribed period.
The appellant filed several interlocutory applications (IAs) along with the appeal, seeking condonation of delay in filing the appeal and an interim stay on the operation of the impugned order. The matter was heard, and one of the applications seeking condonation of delay was allowed, while another was dismissed on the grounds of being time-barred.
Subsequently, the appellant appealed against the NCLAT’s order in the Supreme Court. The Supreme Court, upon hearing the case, found a lack of clarity regarding the date of uploading of the impugned order of the NCLT, Kochi Bench, on its website. Therefore, the Supreme Court set aside the NCLAT’s order and remitted the proceedings back to the NCLAT, Chennai, for fresh decision on whether the appeal was filed within the period of limitation and whether the appellant had demonstrated sufficient cause for condonation of delay.
