2023 (5) TMI 897 - AT - Insolvency & Bankruptcy

Condonation of delay in filing appeal - sufficient reasons for delay provided or not - Maintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues (or not) - Operational Creditors - application filed u/s 9 of IBC dismissed on the ground that the Corporate Debtor has already paid the Principal Amount and the Petition under Section 9 is not maintainable in respect of interest.

Whether there is a sufficient cause assigned by the Applicant/Appellant for the purpose of Condonation of Delay or not? - HELD THAT:- Admittedly, the Impugned Order was received by the Appellant within two/three days of its passing. The Appellant was having about 25 days if not more for the purpose of engaging the Counsel and filing of Appeal but he has made a lame excuse that he belongs to Orrisa and the Counsel was to be engaged at Chennai, therefore, the prescribed period of 30 days had expired and even the Appeal has been filed on the last day of 15th day, therefore, the Appellant is asking for Condonation of 15 days which is the extended period provided in Section 61(2) proviso.

The cause shown by the Applicant/Appellant is not satisfying, as it does not fall within the ambit of sufficient cause, therefore, there are no merit in this Application and the same is hereby dismissed.