Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + AT Insolvency and Bankruptcy - 2022 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (12) TMI 607 - AT - Insolvency and BankruptcyCondonation of delay in filing of appeal - Period of limitation - CIRP - fairness of ‘Resolution Plan’ - providing meagre settlement money to the ‘Appellants’ for examples- only 1.5% to the ‘Operational Creditors’ of their claims - non-initiation of the cases by the ‘Resolution Professional’ for the fraudulent, preferential, avoidance and extortionate transactions. - HELD THAT:- It cannot be the case of the ‘Appellants’ that, despite being ‘Parties’ and in knowledge of pronouncement of the ‘Order’, by the ‘Adjudicating Authority’, they have chosen not to be pro-active in obtaining the required documents including, ‘Certified Copy of the Order’, to file the ‘Appeal’, before this ‘Appellate Tribunal’. This ‘Appellate Tribunal’, therefore, comes to an irrefutable and purposive conclusion that the ‘Appellants’, fail to meet the requirements of limitations, as stipulated in I & B Code, 2016. Hence, these ‘Appeals’, are dismissed on the ‘point of Limitation’.
|