Provisions of Section 14 of the limitation Act will not be attracted for the purposes of condoning the delay in filing appeal under Section 61 of IBC – Hero Exports Vs. Mr. K. Vasudevan RP, Tiffins Barytes Asbestos & Paints Ltd. and Anr. – NCLAT Chennai
When under the statute, the power of review or recall is not vested with an authority created under law, the same would not be maintainable and in these eventualities the recall or a review petition cannot be treated as to be a proceeding in continuation to the principal proceeding, which was held before the NCLT, for grant of approval to the Resolution Plan. In that eventuality, where the appellant has opted to put a challenge only to the order of rejection of recall application, it would amount to that he has acceded to the order of approval of the resolution plan, and consequentially the implications of Order II Rule 2, of CPC would follow which is otherwise principally made applicable in the proceedings which are held before the NCLT or under the I & B Code.