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2020 (12) TMI 887 - HC - Insolvency and BankruptcyMaintainability of appeal - appeal is filed beyond limitation and even the period extendable by the National Company Law Appellate Tribunal - Validity of Appointment of Liquidator and liquidation of company - HELD THAT:- The admitted case of the petitioner is that the limitation as prescribed under Section 61 Sub Section (2) read with proviso is a strict period of limitation which cannot be extended. Admittedly the period to file an appeal has already lapsed. High Court should resist from exercising jurisdiction under Article 227 of the Constitution of India specifically in a case where a remedy of appeal is provided and a strict period of limitation is made applicable and the aggrieved party permits the period of limitation to lapse, maybe for valid or reasons otherwise - Since order dated 15.10.2020 was admittedly an appealable order, though subject to the period of limitation and no appeal has been filed by the petitioner within the statutory period or the extendable period under proviso to Section 61(2) of the Insolvency and Bankruptcy Court, 2016, I am not inclined to exercise the discretionary powers under Article 227 of Constitution of India to permit a challenge to the said order. The contention of learned counsel for the respondent that Section 5 of the Limitation Act may apply does not arise for consideration in these proceedings. Though, it may arise in case petitioner were to file an appeal before the Appellate Tribunal, in which case it would be for the Appellate Tribunal to consider as to whether provisions of Section 5 of the Limitation Act would apply or not - Petition dismissed.
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