Case Note & Summary
The case involved two company appeals filed by Anjaniputra Ispat Ltd. against IAG Company Ltd. and Trust Estate Khimji Keshwaji. The appellant filed an appeal on 20.11.2025 against an order dated 08.09.2025, invoking Section 61 of the Insolvency and Bankruptcy Code (I&B Code), accompanied by a delay condonation application for 53 days. The Tribunal noted that the appeal under Section 61 was not maintainable as it pertained to an order under the Companies Act, 2013. Subsequently, the appellant sought to convert the appeal to one under Section 421 of the Companies Act, which was granted on 29.01.2026. However, the appellant filed a fresh appeal under Section 421 on 30.01.2026, which was accompanied by another delay condonation application for 43 days. The Tribunal analyzed the limitation provisions under both the I&B Code and the Companies Act, concluding that the appeal was barred by limitation as it was filed beyond the permissible period. The court emphasized that the conversion of the appeal did not provide continuity in the limitation period, and thus, the delay condonation application was rejected. The Tribunal ultimately dismissed both appeals due to the delay in filing (Paras 1-29).
Headnote
A) Company Law - Limitation for Appeals - Delay Condonation - Companies Act, 2013, Section 421 - The appeal was filed beyond the prescribed limitation period, and the appellant's request for condonation of delay was denied as the appeal was not maintainable under Section 61 of the I&B Code. The court held that the delay in filing the appeal under Section 421 was not condonable as the appeal was filed after the expiry of the limitation period (Paras 29-29).
Issue of Consideration
Whether the appellant is entitled to condonation of delay in filing the appeal under Section 421 of the Companies Act, 2013.
Final Decision
The Tribunal dismissed the appeal and the delay condonation application, ruling that the appeal was barred by limitation as it was filed 53 days after the impugned order, and the delay could not be condoned under the provisions of the Companies Act.
Law Points
- Limitation
- Delay Condonation
- Appeal under Companies Act
- Transformation of Proceedings
