Case Note & Summary
The National Company Law Appellate Tribunal dealt with an appeal concerning the remittance of costs related to the Corporate Insolvency Resolution Process (CIRP) for Hi-Tech Investment & Finance Pvt. Ltd. The appeal was filed against an order dated 07.02.2023, which was passed in I.A. No. 3765/2021 within the context of C.P. (IB) No. 478(ND)/2017. The appeal had been pending since 2023, along with a delay condonation application. On 08.09.2026, the counsel for the appellant requested the court to condone a delay of 13 days in filing the appeal, which the tribunal granted. Subsequently, the appellant's counsel stated that due to the passage of time, the cause for the appeal no longer existed, and thus, the appellant intended to withdraw the appeal. The tribunal permitted the dismissal of the appeal as withdrawn, concluding the matter without further deliberation.
Headnote
A) Company Law - Corporate Insolvency Resolution Process - Remittance of CIRP Cost - Companies Act, 2013 - The appeal concerned the remittance of costs associated with the Corporate Insolvency Resolution Process (CIRP) and was pending since 2023. The appellant's counsel indicated that the cause no longer survived, leading to the dismissal of the appeal as withdrawn. Held that the appeal was permitted to be dismissed (Paras 1-3).
Issue of Consideration
Whether the appeal regarding the remittance of the CIRP cost should be allowed or withdrawn.
Final Decision
The tribunal condoned the delay of 13 days in filing the appeal and permitted the appeal to be dismissed as withdrawn.
Law Points
- CIRP cost
- delay condonation
- withdrawal of appeal
