Appeals and Appellate authority [ Section 61 ]

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..... nder this part may prefer an appeal to the National Company Law Appellate Tribunal. * Time limit for filing appeal before NCLAT [ Section 61(2) of IBC, 2016 ] * Every appeal under sub-section (1) shall be filed within thirty days before the National Company Law Appellate Tribunal: * Provided that the National Company Law Appellate Tribunal may allow an appeal to be filed after the expiry of .....

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..... may be filed on the following grounds, namely:- * (i) the approved resolution plan is in contravention of the provisions of any law for the time being in force; * (ii) there has been material irregularity in exercise of the powers by the resolution professional during the corporate insolvency resolution period; * (iii) the debts owed to operational creditors of the corporate debtor have not .....

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..... process passed * under section 54-O(2) may be filed on grounds of material irregularity or * fraud committed in relation to such an order. Relevant Case Laws * SEL Manufacturing Company Ltd. & Anr. Vs. Union of India &Ors. 2018 (5) TMI 576 - HC, Punjab and Haryana Dated 01.05.2018 * There is a sea of difference between 'erroneous exercise of jurisdiction' or 'lack of jurisdiction' by a .....

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..... n any action of any of the stakeholders qua implementation of the approved resolution plan nor can it claim any prejudice on the pretext that any of the actions post approval of the resolution plan of successful resolution applicant in regard to its implementation has affected its prospects of being a successful resolution applicant. * Surinder Kaur & Ors. Vs. International Recreation and Amuse .....

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..... mitted against the IRP, on an application filed by CoC as the latter was in the process of approaching IBBI for taking action against the IRP. * National Spot Exchange Ltd. Vs. Mr. Anil Kohli, RP for Dunar Foods Ltd. 2021 (9) TMI 1156 - SC Dated 14.09.2021 * Considering section 61(2) which provide that delay beyond 15 days in preferring the appeal is uncondonable, the same cannot be condoned .....

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