The case involves an appeal against an order dated 04.03.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Amaravati Bench) in IA/186/2020 in CP(IB)No.88/9/AMR/2020, which dismissed the application filed by the Appellant/Operational Creditor under Section 5 of the Limitation Act, 1963. The Appellant sought condonation of a 241-day delay in filing a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Adjudicating Authority held that Section 5 of the Limitation Act is not applicable when a Company Petition is filed beyond the limitation period. The Appellant argued that the delay should be condoned due to various factors, including the COVID-19 pandemic and prior proceedings before the BIFR.
Jain Irrigation Systems Limited, the Appellant/Operational Creditor, filed an appeal against the order dated 04.03.2021 in IA/186/2020 in CP(IB)No.88/9/AMR/2020 passed by the Adjudicating Authority (National Company Law Tribunal, Amaravati Bench). The Appellant had filed a Company Petition under Section 9 of the IBC, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Empee Sugars and Chemicals Limited, the Respondent/Corporate Debtor. The application was filed with a delay of 241 days, and the Appellant sought condonation of the delay under Section 5 of the Limitation Act, 1963. The Adjudicating Authority dismissed the application for condonation of delay, leading to the appeal. The Appellant argued that the delay was due to prior
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The respondent/corporate…
Applicant/operational creditor filed a Company…
The case involves an appeal against an order dated 04.03.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Amaravati Bench) in IA/186/2020 in CP(IB)No.88/9/AMR/2020, which dismissed the application filed by the Appellant/Operational Creditor under Section 5 of the Limitation Act, 1963. The Appellant sought condonation of a 241-day delay in filing a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Adjudicating Authority held that Section 5 of the Limitation Act is not applicable when a Company Petition is filed beyond the limitation period. The Appellant argued that the delay should be condoned due to various factors, including the COVID-19 pandemic and prior proceedings before the BIFR.
Jain Irrigation Systems Limited, the Appellant/Operational Creditor, filed an appeal against the order dated 04.03.2021 in IA/186/2020 in CP(IB)No.88/9/AMR/2020 passed by the Adjudicating Authority (National Company Law Tribunal, Amaravati Bench). The Appellant had filed a Company Petition under Section 9 of the IBC, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Empee Sugars and Chemicals Limited, the Respondent/Corporate Debtor. The application was filed with a delay of 241 days, and the Appellant sought condonation of the delay under Section 5 of the Limitation Act, 1963. The Adjudicating Authority dismissed the application for condonation of delay, leading to the appeal. The Appellant argued that the delay was due to prior
…The respondent/corporate…
Applicant/operational creditor filed a Company…