# In the matter of Ashok Tiwari vs. Tattva & Mittal Lifespaces Private Limited

> NCLAT judgment dated 2023-10-31. Citation: TCN-2023-NCLAT-00108. The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016, by Ashok…

- **Court:** NCLAT
- **Order date:** 31 Oct 2023
- **Citation:** TCN-2023-NCLAT-00108
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ashok-tiwari-vs-tattva-mittal-lifespaces-private-limited-f39417c9

## Summary

### Background

The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016, by Ashok Tiwari against the Impugned Order dated 21.03.2023 read with Order dated 17.01.2023 passed by the National Company Law Tribunal, Mumbai Bench, Court IV. The Appellant's application, C.P. (IB)/642(MB)/2022, was dismissed as not maintainable because the default occurred in the period excluded under Section 10A of the IBC, 2016. The Appellant had applied for rectification of the said Order vide filing dated 15.02.2023, which was partly allowed vide Order dated 21.03.2023.

## Facts

Ashok Tiwari (Appellant) filed an appeal against the order of the National Company Law Tribunal (NCLT), Mumbai Bench, which dismissed his application C.P. (IB)/642(MB)/2022. The NCLT's order was based on the default occurring during the period excluded under Section 10A of the IBC, 2016. The Appellant had disbursed a loan of Rs.1,50,00,000/- to M/s. Tattva Properties LLP (Principal Borrower) for a project in Mumbai, under a Loan Agreement dated 12.10.2020. Tattva & Mittal Lifespaces Private Limited (Respondent) acted as the Corporate Guarantor. The Principal Borrower failed to repay the loan between 15.02.2021 and 15.03.2021, and also failed to provide the agreed-upon security. The Appellant deposited security cheques issued by both the Principal Borrower and the

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## Issues and analysis

### Issue 1: Whether the present Appeal is maintainable considering the period of limitation under Section 61(2) …

**Ratio:** The period spent in obtaining a certified copy of the order is excluded when calculating

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**Reasoning:** The court referred to sub-Rule (2) of Rule 22 of the NCLAT Rules, 2016, and Section 12 of

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**Interpretation:** The legal principle is that the time taken to obtain a certified copy of the

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**Application:** The court applied this principle to determine whether the appeal was filed

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## Parties

- **Judges:** Anant Bijay…; Ajai Das Me…
- **Appellants:** Ashok T…
- **Respondents:** Tattva Properties…; Tattva & Mittal…

## Timeline

- **2020-10-12 — Loan Agreeme…**: Loan Agreement between Ashok Tiwari and Tattva Properties LLP, with Tattva & Mittal…
- **2021-02-15 — Loan Repaymen…**: Period during which the Principal Borrower…

## 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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