TMI Blog2019 (4) TMI 2078X X X X Extracts X X X X X X X X Extracts X X X X ..... he Resolution Professional to utilise the money for the purpose of Resolution Costs to keep Corporate Debtor a going concern and in such case, the State Bank of India may ask for appropriate relief from the Resolution Professional - Appeal disposed off. Maintainability of appeal - time limitation - HELD THAT:- The Appellant Punjab National Bank having preferred this appeal against the same ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h and Mr. R.S. Lakshman, Advocates. For the Respondent: - Mr. N V Srinivasan, Advocate, Mr. Varun Srinivasan, Advocate, Mr. T. Ravi Chandran, Mr. K.V. Balakrishnan and Mr. Rahul Kumar Sharma, Advocates O R D E R In Company Appeal (AT) (Insolvency) No. 329 of 2018 The Appellant- State Bank of India challenged the impugned order dated 23rd May, 2018 passed by the Adjudicating Au ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccount could not have been debited during the period of Moratorium. 4. It is submitted by the learned Senior Counsel that the amount was kept by the Corporate Debtor to pay the amount prior to the Resolution Process for paying the amount to the Operational Creditors against Letters of Credit. 5. It is further submitted that after Resolution Process , such arrangement was also approved ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... same very impugned order dated 23rd May, 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Division Bench, Chennai, after delay of 50 days beyond the period of 30 days. In this circumstances, the delay is beyond 15 days from the 30 days of date of filing, this Appellate Tribunal has no jurisdiction to condone the delay. The appeal is dismissed being barred by limitatio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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