Condonation of INC-28 for NCLT order under IBC

MCA vide its General Circular No. 08/2020 dated 6^th march 2020 mandated the filing of NCLT order for CIRP or Liquidation process under the IBC 2016.

This circular provides for the mandatorily filing of INC-28 for NCLT order to Registrar of Companies on the part of IRP (Interim Resolution Professional) or RP (Resolution Professional).

Further this circular made mandatory filing of earlier NCLT order for the companies which were under CIRP prior to the issue of this circular on the part of IRP/RP.

Now, while filing the earlier NCLT order prior to this circular would required condonation of delay as the time period of 30 days gone.

Hence, Condonation of such form would be done in following manner.

File the INC-28 for earlier NCLT Order.

After that, different Registrar of companies adopting different route, some are marking for resubmission or other marked the status of such form pending for INC-28.

For condonation of delay, The Application will be filed through CG-1 form with the supporting documents.

Supporting Documents includes followings:

Detailed Petition containing the facts and details of NCLT Order as well as reason for such delay filing.

• Urgent application;
• Affidavit verifying the petition;
• Power of Attorney in favour of Practising Professional;
• Memorandum of Appearance;
• INC-28 and its challan;
• Copy of NCLT Order;

After filing of CG-1, routine follow up required, once you got the order from competent Authority i.e. Ministry of corporate Affairs, you have to file one more INC-28 for such order.

Anyone having any query regarding this process or any other query regarding any corporate law you can reach CS Varun Aggarwal (V Aggarwal and co.,)at [email protected] and also at 9599149592