# In the matter of Manish Jain Vs. P. K. Sales Company Pvt. Ltd. & Anr. CA(AT)(Insolvency) No. 591-2019

> NCLAT judgment dated 2019-05-01. Citation: TCN-2019-NCLAT-00605. The appeal was preferred by the Appellant, Director/Shareholder of ‘M/s P. K. Sales Company…

- **Court:** NCLAT
- **Order date:** 1 May 2019
- **Citation:** TCN-2019-NCLAT-00605
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/manish-jain-vs-p-k-sales-company-pvt-ltd-anr-ca-ae1ec52a

## Summary

### Background

The appeal was preferred by the Appellant, Director/Shareholder of ‘M/s P. K. Sales Company Pvt. Ltd.' against an order dated 10th October, 2018. The written communication was placed on record in Form 2 along with the certificate of registration by the proposed liquidator. The Committee of Creditor comprises of only the applicant Bank. Mr. Rakesh Bhatia, the Insolvency Professional, was appointed as the Liquidator to deal with the assets of the Corporate Debtor.

## Facts

The Appellant, being the Director/Shareholder of ‘M/s P. K. Sales Company Pvt. Ltd.', filed an appeal against an order dated 10th October, 2018. The appeal was filed with a delay of 228 days. The Committee of Creditors comprised only the applicant Bank. Mr. Rakesh Bhatia, an Insolvency Professional, was appointed as the Liquidator to manage the assets of the Corporate Debtor. The present appeal was dismissed due to delay.

## Issues and analysis

### Issue 1: Whether the Appellate Tribunal has the jurisdiction to condone the delay of 228 days in filing the …

**Ratio:** Section 61(2) of the Insolvency and Bankruptcy Code, 2016, governs the limitation period

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**Reasoning:** The Appellate Tribunal stated that it has no jurisdiction to condone the delay of 228

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**Interpretation:** Section 61(2) of the IBC sets a strict timeline for filing appeals, and the

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**Application:** The tribunal applied Section 61(2) to the fact that the appeal was delayed by

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## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…; +1 more
- **Appellants:** MANISH…
- **Respondents:** M/s P. K. Sales…; P. K. Sales…

## Timeline

- **2018-10-10 — Order Da…**: Order was passed against…
- **2019-02-27 — Related Case…**: Company Appeal (AT) (Insolvency) No. 224 of 2018 & 286 of 2018', disposed of on 27th…

## 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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