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2019 (8) TMI 1492 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHIMaintainability of application - initiation of CIRP - Time Limitation - jurisdiction to condone delay of 360 days - HELD THAT:- Keeping in view Section 238A of I&B Code, in case of any inconsistency, the provision of Section 61(2) will prevail over the Section 14 of the Limitation Act, 1963 and, therefore, this Appellate Tribunal has no jurisdiction to condone the delay beyond 15 days after the expiry of the period of 30 days in preferring the Appeal, even if, there is sufficient cause shown by the Appellant. The delay of 360 days cannot be condoned - However, this order will not come in the way of the Appellant or any other Shareholder/Director to move before the Adjudicating Authority (National Company Law Tribunal), Bengaluru Bench for exercising its inherent power conferred under Section 11 of the NCLT Rules, 2016, on the ground that the Appellant intends to settle the matter and has deposited the claimed amount with the Hon'ble High Court of Karnataka and passing an appropriate order under Rule 11, taking into consideration that the 'Committee of Creditors' has not yet been constituted. Appeal dismissed being barred by limitation.
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