Southern Power Distribution Company of Telangana Ltd. Vs Kalvakolanu Murali Krishna Prasad Resolution Professional for Vaksh Steels Pvt. Ltd. (NCLAT Chennai)
NCLAT Chennai held that appellant having knowledge of the proceedings fall within the purview of the term ‘Person Aggrieved’ u/s. 61(1) hence cannot be exempt from applying for certified copy within prescribed time. Accordingly, condonation of delay application rejected as beyond the limitation period prescribed u/s. 61 of IBC.
Facts- the Appellant to the Company Appeal, has preferred this Appeal, being aggrieved as against the Impugned Order of 31.01.2020. As a consequence of the Impugned Order, the revised final Resolution Plan dated 04.01.2020, as it stood submitted by M/s. SVSS Commercial Pvt. Ltd., was approved by the Members of the Committee of Creditors, having 100% voting Shares, as per the provisions contained u/s. 31 (1) of the Code. It is this Order of Approval of Resolution Plan, which has been subject to challenge, in this Appeal.
When initially the Company Appeal was preferred by filing the same, before the Registry of this Tribunal on 28.05.2021, it was not accompanied with any Condone Delay Application, despite being an Appeal u/s. 61 of I & B Code, 2016 and since the challenge was to the Impugned Order of 31.01.2020, it was apparently much beyond the period prescribed under Sec. 61 to be read with Sub Section 2, and even its proviso.
