Dismissed

Jm Financial Asset Reconstruction Company Limited v. Shrenuj & Company Limited

DRT19 Oct 2023CA/7/2022

Case brief

AI extract

What is this about?

The DelhiRegistered Tribunal dismissed a chamber appeal filed by an appellant challenging an order dated 19.04.2022, holding the appeal barred by limitation as per Apex Court precedent and not maintainable as the original application was already disposed.

What did the court decide?

The Chamber Appeal was dismissed, and the file was closed and consigned to record.

Jm Financial Asset Reconstruction Company Limited versus… — Insolvency and Bankruptcy | DRT (2023)

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CA 7 of 2022

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19/10/2023	Ex. No.	Before Presiding Officer Dr. Rekha G. Dhakar, DRT-1, Mumbai. *Roznama in CA 7 of 2022* *JM Financial Asset Reconstruction Company* *Limited Vs Shrenuj & Company Limited*	Next date
		BA Advocate Dhruv Dandekar i/b Desai & Diwanji appeared for the Appellant. Advocate Yahta Batatawala a/w Advocate Uma Chatterjee appeared for the Official Liquidator. Advocate Fatima Barodawalla a/w Sejal Khandekar appeared for the Court Receiver.	I
D	R	T1 MUM 1. Heard on Chamber Appeal. 2. Ld. Counsel for the Appellant has raised various objections and stated that the claim of the Appellant may be decided by this tribunal. 3. Ld. Counsel for the Liquidator as well as the Respondent FI has objected to the present Appeal. 4. Admittedly, the Appellant herein challenged the order dt. 19.04.2022 passed in TA No.407/2016 and seeking to review the said order, however, as per Rule 5A (2) of the DRT Rules 1993, the the review application has to be preferred within 30 days but in the present matter, the present Appeal is filed on 22/11/2022 against the order dt. 19/04/2022, thus, the same is beyond the period of limitation. 5. In terms of the judgement of Hon’ble Apex Court in the matter of Standard Chartered Bank V/s MSTC Ltd

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CA 7 of 2022

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(Manu/SC/0073/2020) the DRT has no power to condone the delay in the Review Application. 6. Even otherwise as rightly stated by Ld. Counsel for the Respondents that the Appellant failed to mention that under which rule the Appellant came before this Tribunal. 7. Further the original application i.e., TA No. 407/2016 has already been disposed off, therefore, the present Chamber Appeal which is filed by an intervenor is not maintainable with this Tribunal. 8. Therefore, in view of the above, there is no merit in the present Chamber Appeal and thus the same is hereby dismissed accordingly. File be closed and consigned to record. P.O. DRT-I

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SP/-3

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Jm Financial Asset Reconstruction Company Limited v. Shrenuj & Company Limited

Case brief

What is this about?

What did the court decide?

Jm Financial Asset Reconstruction Company Limited v. Shrenuj & Company Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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