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2020 (10) TMI 537 - Tri - Insolvency and BankruptcyCondonation of delay in filing the requisite Form F under Regulation 9A - Liquidation Process - HELD THAT:- It is evident that not only there has been a delay in lodging the claims with the Liquidator by the Applicant but in appealing against the decision of the Learned Liquidator there has been a delay on the part of the Applicant by more than 5 months in approaching this Tribunal. From the records of this Tribunal, it is evident that no Application seeking for condonation of delay of 5 months has also been filed before this Tribunal, as Section 42 has clearly laid-down, under which it is required of an Appeal to be filed within a period of 14 days from the decision of the Learned Liquidator. In view of the absence of any specific Application seeking for condonation of delay having been filed by the Applicant in approaching this Tribunal by way of an Appeal against the Order of rejection of its claim by the Liquidator beyond the prescribed period of 14 days and well settled principle that "there is no equity about limitation", we are unable to entertain this Application/Appeal. In view of the IBC, 2016 being a time bound process as well as the Learned Liquidator being under a compulsion to complete the liquidation process within a period of one year from the date of commencement of liquidation, the application stands dismissed
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