The National Company Law Appellate Tribunal dismissed a Company Appeal and rejected a condonation of delay application. The Tribunal held that the statutory limitation period of 45 days under Section 61(2) of the IBC has expired and cannot be extended.
Condonation of delay application rejected; Company Appeal dismissed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
NATIONAL COMPANY LAW APPELLATE TRIBUNAL AT CHENNAI
(APPELLATE JURISDICTION) Company Appeal (AT) (CH) (INS) No. 516 / 2025 (IA Nos. 1452 & 1453 / 2025)
In the matter of:
Mr. K. Parthiban Rasu, aged about 76 years, S/o. Kathirvel, Suspended Director of M/s. Star Trace Private Limited, New No 5, Old No 7, Jeevanandam Street, Redhills, Chennai-600 052 … Appellant
V
R. Venkatakrishana,
Resolution Professional IBBI/IPA-001/IP-P00115/ 2017-18/10250 Rajparis Trimeni Towers, First Floor, 147, G N Chetty Road, Chennai – 600017 …Respondent No. 1
Thai Research Info Tech,
Rep. by Sole Proprietor, Ms. P. Leela, No. 48, T.V.K. Street, Redhills, Chennai, Tamil Nadu – 600052 …Respondent No.2
Thai Research Info Tech (OPC) Private Limited, Rep by Sole Director Ms. P. Leela, No. 48, T.V.K. Street, Redhills, Chennai, Tamil Nadu – 600052 …Respondent No.3
Rashmi Cement Limited, Rep. by its authorized signatory, Mr. Amarnath Chowdhury, Having its registered office at Po-Jhargram, Dist-Paschim Medinipur Jhargram, West Bengal - 721 507 …Respondent No.4
Comp App (AT) (CH) (INS) No.516/2025 Page 1 of 4
Present :
For Appellant : Mr. Sudharshana Sunder, Advocate For Respondents : Mr. R. Venkatakrishana, RP/R1 Mr. TK. Bhaskar, Mr. Aditya Mukerjee & Ms. Niveditha Narayanan, Advocates for R4
ORDER (Hybrid Mode)
16.10.2025:
Oral Judgment : Justice Sharad Kumar Sharma, Member (Judicial):
application is vague, ailment is a fact which has to be established by supporting documents to justify the prayer that the nature of the ailment and the incapacity,
Comp App (AT) (CH) (INS) No.516/2025 Page 2 of 4
which the deponent suffered from was such that it incapacitated him from filing an affidavit before the Tribunal or preferring the Appeal in time.
45 days under any set of circumstances and that grant of condonation of delay
beyond the period of 45 days goes outside the ambit of this Appellate Tribunal.
Comp App (AT) (CH) (INS) No.516/2025 Page 3 of 4
Appeal (AT) (CH) (INS) No. 516 / 2025 would too stand dismissed. The connected Interlocutory Application, if any, would stand closed.
[Justice Sharad Kumar Sharma] Member (Judicial)
[Jatindranath Swain] Member (Technical)
Comp App (AT) (CH) (INS) No.516/2025 Page
4 of 4
3 issues framed by the court
Whether delay of 52 days in filing appeal can be condoned under Section 61(2) of the Insolvency and Bankruptcy Code, 2016.
Whether the Appellate Tribunal has jurisdiction to condone delay exceeding 45 days.
Whether hospitalisation of the appellant constitutes sufficient cause to condone delay beyond the statutory period.
2 provisions across 1 enactments
Mr. K. Parthiban Rasu
R. Venkatakrishana
Thai Research Info Tech
Thai Research Info Tech (OPC) Private Limited
Rashmi Cement Limited
Sharad Kumar Sharma
Jatindranath Swain
As recorded by the court registry
An application for interim relief made while the main matter is pending.
Judgements on the same questions, provisions and authorities, from every court
