Case Law Details
National Spot Exchange Limited Vs Anil Kohli (Supreme Court of India)
Conclusion: NCLAT had rightly refused to condone the delay of 44 days in preferring the appeal against the order passed by the NCLT and rejected the claim of the appellant as the period of 15 days which maximum could have been condoned in view of specific statutory provision contained in Section 61(2) of the IB Code.
Held: In the present case, even appellant applied for the certified copy of the order passed by the adjudicating authority on 8.4.2019, i.e., after a delay of 34 days. Therefore, even the certified copy of the order passed by the adjudicating authority was applied beyond the prescribed period of limitation, i.e., beyond 30 days. The certified copy of the order was received by the appellant on 11.04.2019 and the appeal before the NCLAT was preferred on 24.06.2019, i.e., after a delay of 44 days. As the Appellate Tribunal can condone the delay up to a period of 15 days only, the Appellate Tribunal refused to condone the delay which was beyond 15 days from completion of 30 days, i.e., in the present case delay of 44 days and consequently dismissed the appeal. Therefore, as such, it could not be said that Appellate Tribunal committed any error in not condoning the delay of 44 days, which was beyond the delay of 15 days which could not be condoned as per Section 61(2) of the IB Code. Considering the statutory provisions which provide that delay beyond 15 days in preferring the appeal was un condonable, the same could not be condoned even in exercise of powers under Article 142 of the Constitution. In view of the settled proposition of law and even considering the certified copy of the order passed by the adjudicating authority was applied beyond the period of 30 days, there was a delay of 44 days in preferring the appeal which was beyond the period of 15 days which maximum could have been condoned and in view of specific statutory provision contained in Section 61(2) of the IB Code, it could not be said that the NCLAT had committed any error in dismissing the appeal on the ground of limitation by observing that it had no jurisdiction and/or power to condone the delay exceeding 15 days.
FULL TEXT OF THE SUPREME COURT JUDGMENT/ORDER
1. Feeling aggrieved and dissatisfied with the impugned order dated 05.07.2019 passed by the National Company Law Appellate Tribunal, New Delhi (hereinafter referred to as the ‘NCLAT’) in Company Appeal (AT)(Insolvency) No. 683 of 2019, by which the NCLAT has refused to condone the delay of 44 days in preferring the appeal against the order passed by the National Company Law Tribunal (hereinafter referred to as the ’NCLT’), rejecting the claim of the appellant herein, the appellant – National Spot Exchange Limited has preferred the present appeal.
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