If Tribunal Is Closed On Last Day Of Filing Appeal U/S 61 Of IBC, That Day Shall Stand Excluded As Per Rule 3 Of NCLAT Rules: NCLAT
3 weeks, 4 days ago

If Tribunal Is Closed On Last Day Of Filing Appeal U/S 61 Of IBC, That Day Shall Stand Excluded As Per Rule 3 Of NCLAT Rules: NCLAT

Live Law  

The National Company Law Appellate Tribunal New Delhi bench of Justice Ashok Bhushan and Mr. Barun Mitra has held that when office of the Tribunal remains closed on the last day of filing an appeal under section 61 of the Insolvency and Bankruptcy Code, 2016, the appeal can be filed on the day when the Tribunal reopens as per Rule 3 of the NCLAT Rules. The NCLAT in Darwin Platform Infrastructure Ltd. held that “the extended period of 15 days as provided in Section 61 proviso of the Code is not the prescribed period for limitation and the benefit of Section 4 is attracted only when last date of the limitation falls on Holiday.” The Tribunal further observed that Rule 3 of the NCLAT Rules states that when the Appellate Tribunal on the last day of filing the appeal is closed, that day and any succeeding day on which the Tribunal remains closed shall be excluded from the computation of limitation period. The Tribunal after referring to the facts of its judgment in Raj Kumar Banerjee vs. Supriyo Kumar Chaudhuri observed that when 30 days period was expiring on 7th May and 8th May being holiday, the last date for filing the Appeal would be 9th May, 2022. The Tribunal concluded that for computing 30 days period for filing the Appeal under Section 61, if the office of the Tribunal is closed on the 30th day, the period shall extend upto the date on which the Tribunal re-opens.

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Limitation Period For Filing Appeal U/S 61 Of IBC Commences From Date Of Order, Not From Date Of Its Receipt: NCLAT
3 weeks, 2 days ago

Limitation Period For Filing Appeal U/S 61 Of IBC Commences From Date Of Order, Not From Date Of Its Receipt: NCLAT

Live Law  

The National Company Law Appellate Tribunal New Delhi bench of Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has held that the limitation period for filing an appeal under section 61 of the Insolvency and Bankruptcy Code, 2016 shall commence from the date of passing of the order and not from the date when a copy of the …

Courts Have No Power To Extend Prescribed Period Of Limitation On Grounds Of Equity And Justice: Karnataka High Court
3 weeks, 3 days ago

Courts Have No Power To Extend Prescribed Period Of Limitation On Grounds Of Equity And Justice: Karnataka High Court

Live Law  

The Karnataka High Court has said that Law of Limitation may harshly affect a particular party; but it has to be applied with all its rigour when the statute so prescribes. A division bench of Justice Krishna S Dixit and Justice G Basavaraja observed thus while dismissing a petition filed by one Kailasam P challenging the order of the Debt …

Delay Beyond 15 Days In Filing Appeal Cannot Be Condoned As Per Proviso To Section 61(2) Of IBC: NCLAT
1 month, 3 weeks ago

Delay Beyond 15 Days In Filing Appeal Cannot Be Condoned As Per Proviso To Section 61(2) Of IBC: NCLAT

Live Law  

The NCLAT New Delhi bench of Justice Ashok Bhushan, Mr. Barun Mita and Mr. Arun Baroka has held that delay in filing an appeal beyond 15 days as per section 61 proviso of the Insolvency and Bankruptcy Code cannot be condoned. The appellant submitted that the appeal has been filed within a period of limitation that is within 45 days …

Period From 15.03.2020 To 28.02.2022 Shall Stand Excluded As Per SC Judgment In 'Re:Cognizance For Extension Of Limitation': NCLAT
2 months, 1 week ago

Period From 15.03.2020 To 28.02.2022 Shall Stand Excluded As Per SC Judgment In 'Re:Cognizance For Extension Of Limitation': NCLAT

Live Law  

The NCLAT New Delhi bench of Justice Yogesh Khanna and Mr. Ajai Das Mehrotra has held that period from 15.03.2020 to 28.02.2022 shall stand excluded in light of the Supreme Court judgment in In Re: Cognizance for Extension of Limitation for the purpose of calculating the limitation period while filing an application under section 9 of the code. However, after …

Monthly Digest Of IBC Cases: May 2024
9 months, 2 weeks ago

Monthly Digest Of IBC Cases: May 2024

Live Law  

SUPREME COURT Can Homebuyer's Claim For Apartment Be Rejected For Not Filing Claim During Insolvency Process Against Builder? 1398 of 2023 The National Company Law Appellate Tribunal Delhi, comprising Justice Ashok Bhushan, Mr. Barun Mitra, and Mr. Arun Baroka held that documentary evidence including postal receipt mentioning the registered address of the Corporate Debtor confirms the issuance of a Demand …

Registry Remained Open,Summer Vacation Not Excluded From Computation Of Limitation: NCLAT Delhi
1 year, 5 months ago

Registry Remained Open,Summer Vacation Not Excluded From Computation Of Limitation: NCLAT Delhi

Live Law  

The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Ashok Bhushan, Shri Barun Mitra and Shri Arun Baroka, while adjudicating an appeal filed in M K Overseas Export Pvt. Ltd. v Sapan Mohan Garg, has held that the duration of summer vacation of NCLAT cannot be excluded from computation of limitation period, since filing facility was not …

Delay In Filing Of Appeal Under Section 42 Of IBC Is Condonable Under Section 5 Of Limitation Act: NCLAT Delhi
1 year, 9 months ago

Delay In Filing Of Appeal Under Section 42 Of IBC Is Condonable Under Section 5 Of Limitation Act: NCLAT Delhi

Live Law  

The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, while adjudicating an appeal filed in Canara Bank v Commercial Tax Department Circle 09, Indore, Madhya Pradesh & Anr., has held that delay in filing the Appeal under Section 42 of IBC is condonable in exercise of power under Section 5 of …

Arbitration | Section 34 Application Must Be Filed Within 90 Days Limitation To Claim Exclusion Of Period When Court Remain Closed : Supreme Court
1 year, 11 months ago

Arbitration | Section 34 Application Must Be Filed Within 90 Days Limitation To Claim Exclusion Of Period When Court Remain Closed : Supreme Court

Live Law  

The Supreme Court has held that an application under Section 34 of Arbitration and Conciliation Act, 1996 must be filed within “prescribed period” of limitation i.e. SUPREME COURT VERDICT Exclusion of period during which the Court was closed from computation of limitation only available when application for setting aside award is filed within “prescribed period” of limitation The Bench placed …

No Scope For Condonation Of Delay Beyond 15 Days, Much Less 45 Days: NCLAT Delhi
1 year, 11 months ago

No Scope For Condonation Of Delay Beyond 15 Days, Much Less 45 Days: NCLAT Delhi

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Rakesh Kumar Jain and Shri Naresh Salecha, while adjudicating an appeal filed in Diwakar Sharma v Anand Sonbhadra, has held that there is no scope for condonation of delay beyond the period of 15 days much less 45 days, as there is no window available for NCLAT to exercise …

Weekly Digest Of IBC Cases: 20 February To 26 February 2023
2 years ago

Weekly Digest Of IBC Cases: 20 February To 26 February 2023

Live Law  

NCLAT Principal Amount Paid In Full, Section 9 Application Not Maintainable For Recovery Of Interest: NCLAT Delhi Case Title: Rohit Motawat v Madhu Sharma Case No. 1152 of 2022 The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Rakesh Kumar Jain and Mr. Naresh Salecha, has held that an application under Section 9 of IBC being pursued …

Plea Says NCLAT Considers Only Physical Filing For Computing Limitation, Delhi High Court Asks Tribunal To Consider Prevalent Position On E-Filing
2 years, 3 months ago

Plea Says NCLAT Considers Only Physical Filing For Computing Limitation, Delhi High Court Asks Tribunal To Consider Prevalent Position On E-Filing

Live Law  

The Delhi High Court has asked the National Company Law Appellate Tribunal to consider the prevalent position with regard to e-filing of documents across courts and tribunals in the country, while disposing of a petition which sought quashing of the order that requires physical filing of documents before the tribunal for the purpose of computation of limitation.As per an office. …

NCLAT Chennai Condones Delay Of 147 Days In Filing Appeal,The Time Spent On Bonafide Litigation
2 years, 3 months ago

NCLAT Chennai Condones Delay Of 147 Days In Filing Appeal,The Time Spent On Bonafide Litigation

Live Law  

The National Company Law Appellate Tribunal, Chennai Bench, comprising of Justice M. Venugopal and Shri Naresh Salecha, while adjudicating an appeal filed in M.K. Alongwith the appeal, the Appellants filed an Interim Application before the NCLAT seeking exclusion of the period from 25.01.2022 till 22.06.2022 in computing the period of Limitation of the Appeal. Further, if the period of 147 …

Does Limitation Period For Filing Appeal Applies To Period For Curing Defects?: NCLAT Refers Question To Larger Bench
2 years, 6 months ago

Does Limitation Period For Filing Appeal Applies To Period For Curing Defects?: NCLAT Refers Question To Larger Bench

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan, Justice N Satyanarayana Murthy and Mr. Barun Mitra, while adjudicating in an appeal filed in Mr. V R Ashok Rao v TDT Copper Limited, has observed that issue of delay in refilling of appeal is often coming before the NCLAT Bench for consideration. Accordingly, the NCLAT Bench …

NCLAT Has No Jurisdiction To Condone Delay Exceeding 15 Days From Period Of 30 Days, Contemplated U/s 61(2) IBC: Supreme Court
3 years, 6 months ago

NCLAT Has No Jurisdiction To Condone Delay Exceeding 15 Days From Period Of 30 Days, Contemplated U/s 61(2) IBC: Supreme Court

Live Law  

The Supreme Court observed that the National Company Law Appellate Tribunal has no jurisdiction to condone the delay exceeding 15 days from the period of 30 days, as contemplated under Section 61 of the Insolvency and Bankruptcy Code.In this case, referring to sub-section of Section 61 of the IBC which provides for powers to the Appellate Tribunal to condone the …

Sec 5 Limitation Act Not Applicable To Delay In Filing Appeal Under RFCTLARR Act : Karnataka HC [Read Judgment]
5 years, 5 months ago

Sec 5 Limitation Act Not Applicable To Delay In Filing Appeal Under RFCTLARR Act : Karnataka HC [Read Judgment]

Live Law  

The High Court of Karnataka has ruled that Section 5 of the Limitation Act cannot be invoked to condone delay in filing appeal against an award under the Right To Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act 2013.A Division Bench comprising Justices B V Nagarathna and K Natarajan gave the ruling in the case The Deputy …

Centre Proposes To Double The Time Limit To Appeal Against Exclusion From NRC
5 years, 7 months ago

Centre Proposes To Double The Time Limit To Appeal Against Exclusion From NRC

Live Law  

The Union Ministry of Home Affairs has proposed to double the limitation period available for filing an appeal against non-inclusion of persons in the National Register of Citizens in Assam, after its final publication.The Union Minister, Amit Shah met the Chief Minister of Assam, Union Home Secretary, Chief Secretary of Assam and other senior officers on August 19 to review …

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