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2022 (1) TMI 215 - AT - Insolvency and BankruptcyLiquidation proceedings - possession of vehicles - It is the Appellant’s case that since he had settled the loans in respect of two vehicles and the ownership was transferred in his name, he is not liable to hand over the vehicles to the Resolution Professional as they were no longer assets of the Corporate Debtor - HELD THAT:- The Appellant has tried to explain the delay in filing the appeal by claiming that he first filed an application before the Adjudicating Authority for review of the order dated 26.9.2019. This review application was disposed off vide order dated 4.11.2020, inter alia, holding that the review application was misconceived since there was no provision in IBC for review of an order of Adjudicating Authority - the order dated 4.11.2020 is not a substantive order, but only an order seeking help of police authorities for locating the vehicles. The substantive order dated 26.9.2019 has assumed finality, as has been noted by us earlier. The contention of the Appellant that he filed a review application under rule 11 read with Section 154 of NCLAT Rules and hence he waited for an order on this application before filing the appeal is not tenable. It is amply clear that there is no provision of review under the IBC and hence a misconceived review application cannot provide relaxation in limitation to the Appellant. It is clear that the Appellant Niraj Jha had knowledge of the order dated 26.09.2019. His claim that he could appeal against the said order only after receipt of its copy on 12.02.2021 does not appear convincing - This appeal was actually filed on 01.02.2021 which is much after the expiry of the extended period of limitation. Moreover, the Appellant has not explained in any cogent manner the delay of over 40 days in filing this appeal. Hence, even after adopting liberal approach in calculating limitation, we do not find the appeal to be filed within limitation period. Since the appeal is found to be barred by limitation, it is not considered necessary to go into other issues raised by the Appellant relating to transfer of ownership of the said vehicles - appeal dismissed.
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