The case involves a dispute regarding the condonation of delay in filing an appeal before the NCLAT. The National Company Law Tribunal (NCLT) at Hyderabad rejected an application filed by State Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016 against India Power Corporation Limited. The appeal before the NCLAT, Chennai, was filed with a delay of 3 days beyond the 30-day period prescribed in Section 61(2). A difference arose between two members of the NCLAT regarding whether the delay should be condoned, with the Judicial Member holding that the 'free of cost' copy filed by the appellant was insufficient without an application for a certified copy, and the Technical Member disagreeing. The matter was referred to a third member who agreed with
…State Bank of India (SBI) filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) against India Power Corporation Limited. The National Company Law Tribunal (NCLT) at Hyderabad rejected SBI's application on the grounds of maintainability on 30 October 2023. SBI appealed to the National Company Law Appellate Tribunal (NCLAT) in Chennai, filing the appeal on 2 December 2023, which was 3 days beyond the initial 30-day period prescribed by Section 61(2) of the IBC. SBI sought condonation of the delay. A difference of opinion arose between the two members of the NCLAT on 1 May 2024 regarding the condonation of delay. The Judicial Member believed that the 'free of cost' copy filed by SBI was insufficient without a formal application for a certified
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The National Company Law Tribunal (NCLT) at…
State Bank of India…
The case involves a dispute regarding the condonation of delay in filing an appeal before the NCLAT. The National Company Law Tribunal (NCLT) at Hyderabad rejected an application filed by State Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016 against India Power Corporation Limited. The appeal before the NCLAT, Chennai, was filed with a delay of 3 days beyond the 30-day period prescribed in Section 61(2). A difference arose between two members of the NCLAT regarding whether the delay should be condoned, with the Judicial Member holding that the 'free of cost' copy filed by the appellant was insufficient without an application for a certified copy, and the Technical Member disagreeing. The matter was referred to a third member who agreed with
…State Bank of India (SBI) filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) against India Power Corporation Limited. The National Company Law Tribunal (NCLT) at Hyderabad rejected SBI's application on the grounds of maintainability on 30 October 2023. SBI appealed to the National Company Law Appellate Tribunal (NCLAT) in Chennai, filing the appeal on 2 December 2023, which was 3 days beyond the initial 30-day period prescribed by Section 61(2) of the IBC. SBI sought condonation of the delay. A difference of opinion arose between the two members of the NCLAT on 1 May 2024 regarding the condonation of delay. The Judicial Member believed that the 'free of cost' copy filed by SBI was insufficient without a formal application for a certified
…The National Company Law Tribunal (NCLT) at…
State Bank of India…