# Affle 3i Limited vs. Axis Trustee Services Limited & Anr.

> NCLAT judgment dated 2026-09-22. Citation: TCN-2026-NCLAT-00300. Affle 3i Limited (Appellant) filed an appeal under Section 61 of the IBC against an order…

- **Court:** NCLAT
- **Order date:** 22 Sept 2026
- **Citation:** TCN-2026-NCLAT-00300
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/affle-3i-limited-vs-axis-trustee-services-limited-53a50

## Summary

### Background

Affle 3i Limited (Appellant) filed an appeal under Section 61 of the IBC against an order dated 12.06.2026 by the National Company Law Tribunal (NCLT), New Delhi, which admitted Talent Unlimited Online Services Pvt. Ltd. (Corporate Debtor) into Corporate Insolvency Resolution Process (CIRP) based on a Section 7 application filed by Axis Trustee Services Limited (Respondent No. 1), acting as Debenture Trustee. The Appellant, a substantial investor and shareholder in the Corporate Debtor, alleged that the CIRP was initiated fraudulently and maliciously to resist the implementation of an arbitral award and to avoid contractual obligations.

## Facts

The appeal is filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 against an Order dated 12.06.2026.

The Impugned Order was passed by the Adjudicating Authority (NCLT, New Delhi-Court III) in C.P.(IB) No. 169(ND)/2026.

The Adjudicating Authority admitted the Section 7 application filed by Respondent No. 1-Axis Trustee Services Ltd.

The Corporate Debtor, Talent Unlimited Online Services Pvt. Ltd., was admitted into Corporate Insolvency Resolution Process (CIRP).

The Appellant filed I.A No. 5683 of 2026 seeking condonation of delay of 13 days in filing the appeal.

The Appellant claimed it was not a party to the NCLT proceedings and acquired knowledge of the impugned order only on 16.06.2026.

…

## Issues and analysis

### Issue 1: Whether the delay of 13 days in …

**Ratio:** Delay in filing an appeal under Section 61(2) of the IBC, if within the extended period

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**Reasoning:** The Appellant was not a party to the NCLT proceedings and acquired knowledge of the

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**Interpretation:** Section 61(2) of the IBC provides for a maximum period of 45 days (30 + 15) for

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**Application:** The NCLAT allowed the delay condonation application, finding sufficient basis

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## Parties

- **Judges:** Yogesh K…; Barun M…
- **Appellants:** Affle 3i L…
- **Respondents:** Talent Unlimited…; Axis Trustee…
- **Other parties:** Committee of…; Manish Ag…; +1 more
- **Advocates:** Abhijeet…; Nakul Sac…; +10 more

## Timeline

- **2022-12-02 — Inspection Noti…**: Appellant issued an inspection notice to the Corporate Debtor seeking access to material…
- **2022-12-07 — Second Inspection…**: Appellant issued another inspection…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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