National Company Law Appellate Tribunal
Shri Sushil S/o Atmaram Jejani & Anr vs J.M. Financial Asset Reconstruction Company on 24 February 2020
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
NEW DELHI
IA No.825 of 2020
and
Company Appeal (AT) (Ins) No.312 of 2020
[Arising out of Order dated 18.10.2019 passed by National Company Law Tribunal, Mumbai Bench, Mumbai in MA 1614/2018 & MA 1037/2019 in CP (IB) 1833/MB/2017]
IN THE MATTER OF:
Before NCLT
Before NCLAT
1. Shri Sushil
…
Appellant No.1
S/o Atmaram Jejani
Suspended Director
of Jejani Pulp and
Paper Mills Pvt. Ltd.
Opp. Navaidyam
Estoria, Surya Nagar,
Nagpur – 35
2. Shri Sushil
…
Appellant No.2
S/o Atmaram Jejani
Proprietor - Atmaram
Paper Craft Industries,
136-A, Small Factory
Area, Bagadganj,
Bhandara Road,
Nagpur – 440035,
Maharashtra, India
Versus
1. Shri Prasad Dharap,
Liquidator
Respondent No.1
(Liquidator of
Jejani Pulp and
Paper Mills Pvt. Ltd.)
47, Kachipura,
Ramdespeth,
Nagpur – 440008
2. J.M. Financial Asset
Applicant/
Respondent No.2
Reconstruction Company
Financial Creditor
7th Floor, Cnergy,
Appasaheb Marathe
Marg, Prabhadevi,
Mumbai – 400025
Maharashtra, India
For Appellants:
Shri Anish Gupta and Shri Adarsh Tripathi, Advocates For Respondents:
Shri Udit Gupta, Advocate (R-1)
Shri Abhishek Anand and Ms. Honey Satpal, Advocates (R-2)
Citations and Judicial Treatment
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O R D E R
24.02.2020 Heard Counsel for the Appellant Shri Anish Gupta, Advocate. Advocate - Abhishek Anand is present for Respondent No.2 - J.M. Financial Asset Reconstruction Company. Advocate - Shri Udit Gupta is present for Respondent No.1 – Liquidator. Perused IA No.825 of 2020. The Appeal is apparently time barred as condonation of delay of 87 days is sought. Under Section 61 of Insolvency and Bankruptcy Code, 2016, limitation for Appeal is 30 days, and thereafter, 15 days can be condoned by this Tribunal for sufficient cause.
2. At this stage, the learned Counsel for the Appellant, on instructions, states that he has instructions to withdraw the Appeal but he only wants to make a request that the Appellant may be permitted to take recourse to Section 230 of the Companies Act , 2013 read with provisions of Insolvency and Bankruptcy Code, 2016 in terms of Judgement in the matter of “Y. Shivram Prasad Vs. S. Dhanapal & Ors.” in Company Appeal (AT) (Insolvency) No. 224 of 2018, dated 27th February, 2019.
3. As the Appeal is time barred, we have no jurisdiction to even grant any liberty. If the Appellant is entitled, the concerned Liquidator would naturally consider the law.
The Appeal is disposed of as withdrawn.
[Justice A.I.S. Cheema]
Member (Judicial)
(Justice A.B. Singh) Member (Judicial)
[Kanthi Narahari] Member (Technical)
/rs/md