# In the matter of Corporation Bank Vs. LSI Resolution Pvt. Ltd. CA(AT)(Ins) No. 1515 of 2019

> NCLAT judgment dated 2020-01-07. Citation: TCN-2020-NCLAT-00572. Corporation Bank filed an appeal against an order dated September 17, 2019. The appeal was…

- **Court:** NCLAT
- **Order date:** 7 Jan 2020
- **Citation:** TCN-2020-NCLAT-00572
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/corporation-bank-vs-lsi-resolution-pvt-ltd-ca-95332ca1

## Summary

### Background

Corporation Bank filed an appeal against an order dated September 17, 2019. The appeal was filed with a delay of more than 49 days. The appellate tribunal considered whether the delay could be condoned under Section 61(2) of the Insolvency and Bankruptcy Code (I&B Code).

## Facts

Corporation Bank filed an appeal against an order dated September 17, 2019. The appeal was delayed by more than 49 days. The relevant portion of the impugned order states that MA(IB) 910/KB/2019 was filed by Corporation Bank to pursue direction to the RP to consider its claim. A dissenting creditor filed against the approval of the plan, but the plan is already implemented. The dissenting creditor has to file appeal only against the approval of the plan. It is not maintainable, hence stands dismissed and disposed off.

## Issues and analysis

### Issue 1: Whether the delay of more than 49 days in filing the appeal by Corporation Bank can be condoned …

**Ratio:** Section 61(2) of the I&B Code sets a limitation period for filing appeals, and delays

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**Reasoning:** The tribunal determined that the delay of more than 49 days could not be condoned under

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**Interpretation:** Section 61(2) of the I&B Code is interpreted strictly, requiring appeals to

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**Application:** The tribunal applied the limitation period under Section 61(2) to the facts of

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Corporatio…
- **Respondents:** LSI Resolution…

## Timeline

- **2019-09-17 — Order Da…**: Order passed against…
- **2020-01-07 — Appeal Dis…**: Appeal filed by Corporation Bank…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61(2) — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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