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2022 (8) TMI 650 - Tri - Insolvency and BankruptcyCondonation of delay of 1150 days in filing petition - sufficient reasons to condone delay or not - HELD THAT:- The above delay condonation petition was filed on 01.03.2021 and whereas the main Company Petition in which the Interlocutory Application was filed on 19.09.2019. Thus, admittedly the present I.A. is not filed along with the Main Company Petition and therefore the Petitioner has to explain the delay in not filing the above I.A. from 19.09.2019 till the filing date on i.e. 01.03.2021 since there is already a delay in filing the main Company Petition and therefore the delay is more than 1150 days. The only reason assigned in Para 18 of the Petition is that the Petitioner is exploring all the options available under law for recovery of its legitimate dues and on the other hand was also negotiating for settlement. The Petitioner except devoting more space in pleading various facts with regard to initiating various proceedings against the Corporate Debtor for recovery before the DRT etc. did not explain even a single day’s delay. Condonation of delay is the discretionary jurisdiction conferred on the Courts and Tribunals and the Courts and Tribunals while dealing with the applications of condonation of delay have to liberally condone the delay in order to meet the ends of justice. At the same time, a duty is cast upon the Applicant to broadly and properly explain the overall delay. When once the Petitioner properly explains the delay, the number of days delay to be condoned is immaterial - Condonation of delay is the discretionary jurisdiction conferred on the Courts and Tribunals and the Courts and Tribunals while dealing with the applications of condonation of delay have to liberally condone the delay in order to meet the ends of justice. At the same time, a duty is cast upon the Applicant to broadly and properly explain the overall delay. When once the Petitioner properly explains the delay, the number of days delay to be condoned is immaterial It is the admitted case of the Petitioner that the default in this case was occurred way back in 2013 and the State Bank of Patiala initiated recovery measures by filing various proceedings in 2014 itself and the present Company Petition is filed in 2019. Since this Tribunal is conscious of the fact that the Courts and Tribunals while dealing with delay condonation application shall not look into the merits of the main case, this Bench is not making any comments as to whether the Main Company Petition is within limitation or not. There is an inordinate delay of more than 1150 days in this case and the Petitioner has miserably failed to calculate the exact number of days delay apart from broadly explaining the delay and such an inordinate delay cannot be condoned for mere asking simply because the petitioner is a premier public sector bank - Petition dismissed.
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