# In the matter of Industrial Services (Gases) Vs. Electrosteel Steels Ltd. & Ors. CA (AT) No. 516-2018

> NCLAT judgment dated 2018-09-05. Citation: TCN-2018-NCLAT-00125. The appeal was preferred by the Appellant, an Operational Creditor, against an order dated…

- **Court:** NCLAT
- **Order date:** 5 Sept 2018
- **Citation:** TCN-2018-NCLAT-00125
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/industrial-services-gases-vs-electrosteel-steels-ltd-ors-ca-71ad2e7c

## Summary

### Background

The appeal was preferred by the Appellant, an Operational Creditor, against an order dated April 17, 2018, after a delay of 85 days. The Appellate Tribunal dismissed the petition for condonation of delay, citing Section 61(2) of the Insolvency and Bankruptcy Code, 2016, which limits the Tribunal's power to condone delays beyond 15 days. The Resolution Plan submitted by Vedanta Ltd. had already been approved by the Appellate Tribunal in a previous judgment.

## Facts

The Appellant, an Operational Creditor, filed an appeal against an order dated April 17, 2018, with a delay of 85 days. The Appellate Tribunal noted that Section 61(2) of the Insolvency and Bankruptcy Code, 2016, restricts its power to condone delays beyond 15 days. The Appellant failed to provide satisfactory grounds for the delay. The Resolution Plan submitted by Vedanta Ltd. had already been approved by the Appellate Tribunal in a prior judgment dated August 10, 2018, in the case of Renaissance Steel India Pvt. Ltd. v. Electrosteel Steels Ltd. The Tribunal stated that it is not open to any party to reopen the issue before the Appellate Tribunal.

## Issues and analysis

### Issue 1: Whether the Appellate Tribunal has the power to condone a delay of 85 days in filing the appeal, …

**Ratio:** Section 61(2) of the Insolvency and Bankruptcy Code, 2016, limits the Appellate

…

**Reasoning:** The Appellate Tribunal stated that it has no power to condone the delay beyond 15 days as

…

**Interpretation:** Section 61(2) is interpreted strictly, limiting the Appellate Tribunal's

…

**Application:** The Appellant's delay of 85 days exceeded the 15-day limit prescribed by

…

## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Industrial…
- **Respondents:** Electrosteel…

## Timeline

- **2018-04-17 — Order Da…**: The original order against which the…
- **2018-08-10 — Approval of Resolution…**: The Resolution Plan submitted by Vedanta Ltd. was approved by the Appellate Tribunal on…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/industrial-services-gases-vs-electrosteel-steels-ltd-ors-ca-71ad2e7c