Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding

🚨 Important Update for Our Users

We are transitioning to our new and improved portal - www.taxtmi.com - for a better experience.

⚠️ This portal will be discontinued on 31-July-2025 at 23:59:59

⏳ Loading countdown...

If you encounter any issues or problems while using the new portal,
please let us know via our feedback form , with specific details, so we can address them promptly.

  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

Home Case Index All Cases IBC IBC + AT IBC - 2024 (4) TMI AT This

  • Login
  • Referred In
  • Summary

Forgot password



 

2024 (4) TMI 1288 - AT - IBC


The National Company Law Appellate Tribunal (NCLAT), Chennai, dismissed IA/371/2024 seeking condonation of a 283-day delay in filing an appeal under Section 61(2) of the Insolvency and Bankruptcy Code, 2016. The appellant, EPFO, argued the delay was due to internal procedural requirements and the dues pertained to workmen, thus outside the liquidation estate. However, the Tribunal emphasized that Section 61(2) permits condonation of delay only up to 45 days (30 days plus an additional 15 days) upon showing sufficient cause. Since the delay far exceeded this statutory limit, the Tribunal held it had "no power to enjoin" condonation beyond 45 days. Consequently, the application was found "devoid of any merits" and dismissed, and the underlying appeal was rejected. No costs were imposed.

 

 

 

 

Quick Updates:Latest Updates