Supreme Court Requests Clarity From IBBI Regarding Uploading NCLT Orders And Certified Copy Requirements For Appeals
The Supreme Court has issued a notice to the Insolvency and Bankruptcy Board of India regarding the necessity of acquiring
Supreme Court Requests Clarity From IBBI Regarding Uploading NCLT Orders And Certified Copy Requirements For Appeals
The Supreme Court has issued a notice to the Insolvency and Bankruptcy Board of India regarding the necessity of acquiring a certified copy of the order and attach the same with the appeal.
Justices Sanjiv Khanna and Dipankar Datta's bench has issued a notice due to perceived "Considerable Ambiguity" surrounding certain matters such as the service of orders issued by the National Company Law Tribunal, the uploading of orders on the website, and the one mentioned above.
"We are also inclined to issue notice to the Insolvency and Bankruptcy Board of India, as there appears to be considerable ambiguity concerning service of the orders passed by the National Company Law Tribunal, uploading of orders on the website and also the requirement to obtain a certified copy of the order and enclose the same with the appeal."
Given this, the Insolvency Board has been tasked with evaluating whether the process necessitates any clarification, modification, or simplification.
The current matter stems from the insolvency of M/s Soni Realtors Pvt. Ltd. The Tribunal sanctioned the resolution plan presented by the Resolution Applicant (Srijan Infra LLP). Subsequently, approximately thirteen appeals were lodged with the Appellate Tribunal challenging this decision. Notably, the tribunal dismissed some appeals because they were filed without attaching the certified copy of the contested order. Further, the certified copies were filed after the expiry of the period of the limitation period.
In bolstering this stance, numerous judgments emphasizing the obligatory nature of attaching the certified copy of the challenged order with the appeal were referenced. While examining the essence of these precedents, the Tribunal also noted the possibility of exempting parties from such adherence. Nevertheless, it clarified that there is no automatic exemption if litigants fail to diligently pursue a timely resolution of their grievance.
In light of the aforementioned background, a Special Leave Petition was submitted to the Supreme Court regarding the appeals that were dismissed by the Tribunal, which were filed without any application seeking exemption from filing a certified copy.