National Company Law Appellate Tribunal
Religare Finvest Ltd. vs Nippon Investment & Finance Co. Pvt. Ltd. & Ors. on 27 February 2020
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
IA 899/2020 with
Company Appeal (AT) (Insolvency)No. 339 of 2020
IN THE MATTER OF:
Religare Finvest Ltd.
…..Appellant
Vs.
Nippon Investment & Finance Co. Pvt. Ltd. & Ors.
……Respondents
Present :
For Appellant:
Ms. Tannya Baranwal, Advocate
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O R D E R
27.02.2020 - This appeal has been filed by the Minority Financial Creditor who was part of ‘Committee of Creditors’ (COC) having 4.04% voting right. The appeal has been filed against the Impugned Order dated 05.12.19 by which order the ‘Resolution Plan’ approved by the ‘Committee of Creditors’ by requisite majority has been accepted, by the Adjudicating Authority.
The Application IA No. 899/2020 has been filed by the Appellant to condone 29 days of delay in filing of the appeal. The Impugned Order is dated 05.12.2019 and the appeal has been filed after 74 days on 18.12.2020. The reason given for delay is that there was some typing error in the Impugned Order for which the Appellant filed an application to the Adjudicating Authority, but the Adjudicating Authority has not passed any order and that the certified copy of the order was availed only on 13.02.2020.
…..contd.
2
Under Section 61 of the Insolvency & Bankruptcy Code, 2016 (‘I&B’ Code, for short), the delay after period of Appeal of 30 days which this Tribunal can condone is another 15 days’ period.
As there is delay of more than 15 days, IA 899/2020 is rejected. Consequently, the appeal cannot be entertained and the same stands disposed of as time barred.
[Justice A.I.S. Cheema] Member (Judicial)
[Justice Anant Bijay Singh]
Member (Judicial)
[Kanthi Narahari]
Member (Technical)
ss/m
Company Appeal (AT) (Insolvency)No. 339 of 2020