This case involves two connected company appeals before the National Company Law Appellate Tribunal (NCLAT) at Chennai. The appeals challenge an Impugned Order that admitted M/s. PI Data Centers Private Limited into CIRP proceedings. The primary issue revolves around a delay in filing the appeal and the applicability of Section 14 of the Limitation Act, considering the pendency of an interlocutory application (IA No. 30/2022) filed by the Appellant. The Appellant sought to exclude the period during which IA No. 30/2022 was pending, arguing that it should be condoned under Section 14 of the Limitation Act. The appeals are structured on the same foundation, with each appeal having a direct bearing on the other.
Kalyan Muppaneni, the Appellant, challenged the Impugned Order dated 04.03.2022, which admitted M/s. PI Data Centers Private Limited into CIRP proceedings based on CP (IB) No. 71/9/AMR/2020. The appeal was filed with a delay of 45 days, leading to a Condone Delay Application (IA No. 441/2022). During the pendency of the company petition, the Appellant filed IA No. 30/2022, seeking a direction for the respondents to file an application for withdrawal of the CIRP proceedings under Section 12A of the IBC, claiming a debt settlement. The Appellant argued that the pendency of IA No. 30/2022 justified the delay in filing the appeal, invoking Section 14 of the Limitation Act. The Appellant presented e-mail communications and certificates from ICICI and State Bank of India to
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Order passed admitting…
The Corporate…
This case involves two connected company appeals before the National Company Law Appellate Tribunal (NCLAT) at Chennai. The appeals challenge an Impugned Order that admitted M/s. PI Data Centers Private Limited into CIRP proceedings. The primary issue revolves around a delay in filing the appeal and the applicability of Section 14 of the Limitation Act, considering the pendency of an interlocutory application (IA No. 30/2022) filed by the Appellant. The Appellant sought to exclude the period during which IA No. 30/2022 was pending, arguing that it should be condoned under Section 14 of the Limitation Act. The appeals are structured on the same foundation, with each appeal having a direct bearing on the other.
Kalyan Muppaneni, the Appellant, challenged the Impugned Order dated 04.03.2022, which admitted M/s. PI Data Centers Private Limited into CIRP proceedings based on CP (IB) No. 71/9/AMR/2020. The appeal was filed with a delay of 45 days, leading to a Condone Delay Application (IA No. 441/2022). During the pendency of the company petition, the Appellant filed IA No. 30/2022, seeking a direction for the respondents to file an application for withdrawal of the CIRP proceedings under Section 12A of the IBC, claiming a debt settlement. The Appellant argued that the pendency of IA No. 30/2022 justified the delay in filing the appeal, invoking Section 14 of the Limitation Act. The Appellant presented e-mail communications and certificates from ICICI and State Bank of India to
…Order passed admitting…
The Corporate…