There is no power to enjoin upon NCLAT to condone even a single day beyond the condonable period prescribed as per Section 61 of the Insolvency and Bankruptcy Code, 2016 – Employees Provident Fund Organisation Vs. Nethi Mallikarjuna Setty – NCLAT Chennai

NCLAT held that in view of the clear-cut position of Section 61(1) of the Insolvency and Bankruptcy Code coupled with 150 of the NLCT Rules, this Tribunal is of the considered opinion that the delay of 289 days as afforded by the Petitioner/Appellant from 10.03.2022 to 23.12.2022 in filing the instant Company Appeal cannot be condoned as there is no power to enjoin upon this Appellate Tribunal to condone not even a single day beyond the condonable period prescribed as per Section 61 of the Insolvency and Bankruptcy Code, 2016.

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If any Public depositor applies showing due of the debt claiming itself as operational creditor and the Resolution Professional or the Tribunal do not accept the claim on the ground that they are not financial creditor, we allow the appellant to raise the question before the Tribunal and if any adverse decision is given by the Tribunal, it will be open to the appellant to raise the issue before NCLAT- Hind Motors India Ltd. Vs. Adjudicating Authority NCLT, Chandigarh – NCLAT New Delhi

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