# In the matter of Ashapura Intimates Fashion Limited

> NCLT judgment dated 2025-09-04. Citation: TCN-2025-NCLT-01394. The State of Gujarat, through its State Tax Officer, filed an appeal challenging the…

- **Court:** NCLT
- **Order date:** 4 Sept 2025
- **Citation:** TCN-2025-NCLT-01394
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/ashapura-intimates-fashion-limited-833b6639

## Summary

### Background

The State of Gujarat, through its State Tax Officer, filed an appeal challenging the Liquidator's decision regarding Ashapura Intimates Fashion Ltd. The appeal sought condonation of a delay of 1040 days in filing the appeal and 206 days in filing the claim before the Liquidator.

## Facts

The State of Gujarat filed an appeal challenging the Liquidator's decision regarding Ashapura Intimates Fashion Ltd.

The appeal sought condonation of a delay of 1040 days in filing the appeal and 206 days in filing the claim before the Liquidator.

The applicant filed its claim in Form C dated 22.9.2022 for a sum of Rs. 2,44,54,516/- along with interest @ 18% after the claim date.

The Bench admitted the Petition (CP 1B No. 4488/MB/2018) under Section 7 of the Code initiating Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor and thereafter, the Liquidation proceedings commenced on 5.10.2020.

The Liquidator communicated his impugned decision to the Appellant on 23.09.2022. The limitation to file the Appeal expired on 07.10.2022.

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## Issues and analysis

### Issue 1: Whether the delay of 1040 days in …

**Ratio:** The tribunal held that the delay was not justified due to the lack of sufficient

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**Reasoning:** The tribunal considered precedents regarding condonation of delay and found that the

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**Interpretation:** The tribunal interpreted the provisions of the Limitation Act and the

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**Application:** The tribunal applied the principles to the facts of the case, finding that the

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** The State of…
- **Respondents:** Ashapura Intimates…
- **Other parties:** IDFC BANK L…

## Timeline

- **2018-N/A-N/A — CP (IB)/4488(…**: The original Company…
- **2019-06-28 — Order Da…**: This Bench by an order dated 28.06.2019 admitted the Petition (CP 1B No. 4488/MB/2018)…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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