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2023 (5) TMI 1320 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL CHENNAIRejection of application seeking Condonation of Delay of 49 days in filing of the Claim under Form - C together with the delay in filing the Application before the Adjudicating Authority - sufficient cause for delay or not - HELD THAT:- The actual time period of delay in submitting the 'Claim Form' is 125 days. It is also significant to mention that the 'Appellant' approached the 'Adjudicating Authority', vide I.A.1589/22 with a further delay of 100 days, and the only reason that was given is that they were seeking 'legal advise', which the 'Adjudicating Authority' has rightly held is only a bald explanation and does not construe a 'sufficient cause for the delay'. The Appellant placed reliance on PUNEET KAUR VERSUS KV DEVELOPERS PRIVATE LIMITED, MR. PANKAJ NARANG, COMMITTEE OF CREDITORS, CONSORTIUM OF SUMIT KUMAR KHANNA AND M/S. BRIJ KISHORE TRADING PVT. LTD. [2022 (6) TMI 108 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHI], in support of his case that the NCLAT Principal Bench condoned the delay of the Homebuyers in filing their Claims. The facts in that matter are distinguishable as the case relates to Homebuyers where there were Builder Buyer Agreements ('BBA') and it was held that rightfully some provisions in the Plan/submission of Claims are to be made for the genuine Homebuyers. The fact of the matter is that the Appellant has given no substantial grounds to condone the delay. IBC is a time bound process, which has been repeatedly held by the Hon'ble Supreme Court in a catena of Judgements and at the cost of repetition, the explanation given by the Appellant herein is neither substantial nor can be construed as a sufficient cause. Appeal dismissed.
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