that the Appellant had filed a Reference under the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) before the Board of Industrial and Financial Reconstruction (B.I.F.R.) . It is stated that, according to the undertaking given by the Appellant, three installments were paid on 15th May, 2015, 15th June, 2015 and 15th August, 2015. It is thus stated that since the Appellant was over burdened on account of the litigation pending in the Courts, Mr. Satish Gaikwad was transferred in the month of August, 2015 to assist the Appellant in the pending cases. It is stated that, therefore, there was a delay in receiving documents filed before the B.I.F.R. It is further stated that it was the Appellant who realized that the Reference of the Appellant made to the B.I.F.R. was registered as a case, being Case No.87/2015, pursuant to letter dated 14th July, 2015. It is stated that the Appellant further realized only on 10th August, 2015 that the orders which were passed on 10th March, 2015 and 12th June, 2015 recorded an undertaking of the Appellant to be bound and liable to make the payment as per the Consent Terms. In para (3) of the affidavit-insupport of the Notice of Motion, the Appellant Company stated that, “ I say that due to inadvertence, the Appellant was delayed in realization of registration before B.I.F.R. and the undertaking recorded in the said order.” Therefore, the Appellant Company prayed that the delay may be condoned.
