Company Appeal(at)(Ins) 347/ND/2026 of Eastern Power Distribution Company of Andhra Pradesh Limited v. Tripti Agarwal Liquidator of Implex Metal & Ferro Alloys Limited
Case brief
What is this about?
The Tribunal considered whether an insolvency restoration application could be rejected as time-barred under Rule 48(2) of the NCLT Rules after the prescribed 30-day period. It held that the time-bound objective of insolvency legislation did not exclude interlocutory proceedings from Section 238A, which incorporates the Limitation Act only “as far as may” and permits a discretionary assessment of sufficient cause under Section 5. The delay was traceable to counsel's deliberate non-appearance and refusal to release the appellant from the standing vakalatnama, rather than the appellant's negligence. The appeal was allowed, the restoration application was restored to the merits, and related pending interlocutory applications were closed.
What did the court decide?
The impugned order dated 13.11.2025 was quashed; the order dated 08.11.2023 dismissing I.A. No. 1061 of 2021 was recalled; I.A. No. 1570 of 2024 was allowed for consideration on its merits, and all pending interlocutory applications were closed.