2023 (9) TMI 460 - SCH - Insolvency and Bankruptcy

Condonation of delay of 200 days in preferring the present appeal - HELD THAT - The delay is beyond the condonable period. Hence the appeal is dismissed on the ground of delay. The impugned judgment and the delay in filing of the appeal shows that the time lines prescribed under the Insolvency and Bankruptcy Code 2016 are not being followed and adhered to by the State of Karnataka. Corrective steps must be taken in this regard.

Summary

The Supreme Court dismissed the appeal due to a 200-day delay beyond the condonable period. The Court noted non-adherence to timelines under the Insolvency and Bankruptcy Code, 2016 by the State of Karnataka and recommended corrective actions. Any pending applications were disposed of.