Content Provider | Supreme Court of India |
---|---|
e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | 2016 Insolvency and Bankruptcy Code |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case(s) Referred | Referred Case 0 Referred Case 1 Referred Case 2 Referred Case 3 Referred Case 4 Referred Case 5 Referred Case 6 Referred Case 7 Referred Case 8 Referred Case 9 Referred Case 10 |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Dismissed |
Headnote | Insolvency and Bankruptcy Code, 2016 – s.61(2) – Appeals and Appellate Authority – In response to the public announcement by Interim Resolution Professional (IRP) inviting the claims from the creditors of the corporate debtor, the appellant submitted claim of Rs.673.85 crores – The IRP rejected the claim of the appellant on the ground that there was no privity of contract between the appellant and the corporate debtor and no letter of guarantee was issued by the corporate debtor in favour of the appellant – Appellant challenged the rejection before the National Company Law Tribunal (NCLT), which upheld the decision of the IRP – Aggrieved, the appellant preferred appeal before the National Company Law Appellate Tribunal (NCLAT) – There was a delay of 44 days in preferring the said appeal – The NCLAT dismissed the appeal on the ground that Appellate Tribunal has no jurisdiction to condone the delay beyond 15 days from 30 days and appeal is barred by limitation – On appeal, held: As per s.61(2) of the IB Code, the appeal is required to be preferred within a period of 30 days – The Appellate Tribunal may allow an appeal to be filed beyond the period of 30 days, if it is satisfied that there was sufficient cause for not filing the appeal, but such period shall not exceed 15 days – So, the appeal before the NCLAT was required to be filed within a maximum period of 45 days (30 days + 15 days) – However, in the instant case there was delay of 44 days beyond a total period of 45 days – It is settled legal position that the law of limitation may harshly affect a particular party but it has to be applied with all its rigour when the Statute so prescribes – The Court has no power to extend the period of limitation on equitable grounds – It cannot be said that the NCLAT has committed any error in dismissing the appeal on the ground of limitation by observing that it has no jurisdiction and/or power to condone the delay exceeding 15 days. |
Judge | Hon'ble Mr. Justice M.R. Shah |
Neutral Citation | 2021 INSC 476 |
Petitioner | National Spot Exchange Limited |
Respondent | Mr. Anil Kohli, Resolution Professional For Dunar Foods Limited |
SCR | [2021] 7 S.C.R. 1024 |
Judgement Date | 2021-09-14 |
Case Number | 6187 |
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