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2023 (2) TMI 1032 - AT - Insolvency and BankruptcyCondonation of delay of 79 days in filing appeal - appeal could not be filed in time - whether the delay was properly explained or not - whether the delay was wilful or wanton? HELD THAT:- It cannot be gainsaid, that the delay in question, needs to be explained, from the date, the time was running out, till the date of filing of an Appeal or an Application, as per the decision of the Hon’ble Supreme Court of India, in the matter of Ramlal v. Rewa Coal Fields Limited [1961 (5) TMI 54 - SUPREME COURT]. The Rules of Limitation, prescribe that a Remedy, can be exercised, only upto a certain point of time and not subsequently / later, as the case may be. In reality, the Litigants / Parties / Stakeholders, are to be diligent, and they are not to be an indolent persons, and not to adopt a careless and a negligent attitude, keeping in mind of the fact that Speed is the gist of the I & B Code. 2016. This Tribunal, taking note of the fact that in the present case, the delay, that has occasioned in preferring the instant Appeal, is 79 days, which is beyond the specified period, contemplated under Section 61 of the I & B Code, 2016 - Appeal dismissed.
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