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2021 (7) TMI 1437 - AT - Insolvency and BankruptcyAdmission of Application under Section 7 of the Insolvency and Bankruptcy Code, 2016 - time period for filing appeal - HELD THAT:- Under Section 61(2) of the IBC, the period for filing of Appeal is 30 days and the time which can be condoned by this Tribunal beyond the period of Appeal is of 15 days. The impugned order being dated 20.09.2019, the limitation expired after period of Appeal and another 15 days and the present Appeal is clearly time barred. The ground raised is of limitation with regard to the debt concerned. What appears is that the Corporate Debtor was declared NPA on 15.09.2017. The record does not disclose the date of filing of Application under Section 7 of the IBC. However, the impugned order itself is of 20.09.2019 and there is no substance in the claim that the debt was time barred - Appeal not admitted and is dismissed. Liquidation order of Corporate Debtor - HELD THAT:- Considering Impugned Order, the record and the time bound procedure under the IBC, we do not think that granting stay to the liquidation proceeding would be appropriate. If the Appellant succeeds, it would be for this Tribunal to mold relief. List the Appeal for ‘Admission (After Notice) Hearing’ on 16th September, 2021.
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