National Company Law Appellate Tribunal
Mrs. Padmasree vs State Bank Of India on 14 November, 2025
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
AT CHENNAI
(APPELLATE JURISDICTION)
Company Appeal (AT) (CH) (Ins) No. 560/2025
(IA Nos. 1585, 1586 & 1587/2025)
In the matter of :
MRS. PADMASREE,
Villa No. B-8, CPR
Bella Vista, Nallagandla
Hyderabad - 500 019 ...APPELLANT
V
STATE BANK OF INDIA
Represented by its Assistant General Manager,
Stressed Asset Management Branch
Red Cross Building, Montieth Road,
Egmore, Chennai - 8 ...RESPONDENT
Present :
For Appellants : Mr. Lakshit Chaudhary, Advocate
For Respondent : Mr. ML Ganesh, Advocate
ORDER
(Hybrid Mode) 14.11.2025:
Heard the Ld. Counsels for the parties. The challenge by the Appellant, i.e., the Personal Guarantor in the instant company appeal, is to the impugned order of 13.08.2025. The company appeal was e-filed before the Registry of this Appellate Tribunal on 14.10.2025, which was accompanied by the Condone Delay Application IA. No. 1586/2025, wherein the Appellant has sought condonation of 28 days of delay in preferring the appeal.
According, to the ground taken by the Appellant for seeking Condonation of Delay, he contended that the impugned order was delivered to him on Comp App (AT) (CH) (Ins) No. 560/2025 Page 1 of 3 13.09.2025, by the Resolution Professional, that she is an aged lady residing in Hyderabad and owing to financial constraints she could not arrange for funds and approached the counsel only on 04.10.2025 and got the appeal e-filed on 10.10.2025. Hence, delay of 28 days may be condoned. This plea cannot be accepted because
(i) appeal was e-filed on 14.10.2025 as per records of this Tribunal and
(ii) she had the knowledge of the order on 13.08.2025 as she was present on the date of pronouncement of the order before the Tribunal through her counsel as recorded in the impugned order.
Further even assuming that she got the knowledge of the order on 13.09.2025 when the copy was delivered by the Resolution Professional, to her, there is no justification as to why the company appeal was filed at a belated stage on 14.10.2025 as the alleged service of the order on 13.09.2025 would not preclude the Appellant from preferring an appeal within the time prescribed under the statute, as she was present before the Tribunal on the date of pronouncement of Order.
What is surprising is that the Appellant, despite allegedly receiving knowledge of the order on 13.09.2025 for the first time, had not applied for a certified copy before the Ld. Adjudicating Authority. Further, if we determine the limitation as per the Appellant's own case, there is a delay of 28 days, (as per the Registry's report it is 32 days of delay), which would still fall well beyond the Comp App (AT) (CH) (Ins) No. 560/2025 Page 2 of 3 upper limit prescribed under the proviso to Section 61 (2) of the I & B Code, 2016.
The Ld. Counsel for the Appellant raised several arguments in support of the application for condonation of delay, citing financial constraints, certain restrictions faced by the Appellant in collating documents from Hyderabad, difficulty in engaging counsel, etc. However, these grounds cannot be considered valid for condonation of delay beyond the time limit, as prescribed by the statute.
Since it is not the case of the Appellant that she had applied for the certified copy of the order, nor is there any reference in the pleadings as to when the order was uploaded. She is not eligible for any exclusion of time period, the limitation has to the computed from the date of pronouncement of order and in that case, the company appeal is found to have been preferred after the expiry of the upper limit of the time period prescribed under the proviso to Section 61 (2) of the I & B Code, 2016, i.e., 45 days from the date of the order. Hence, the appeal is liable to be dismissed.
Accordingly, the Condone Delay Application being IA No. 1586/2025 is rejected, and consequentially the 'company appeal' too is 'dismissed'.
All pending 'interlocutory applications' would stand 'closed'.
[Justice Sharad Kumar Sharma] Member (Judicial) [Jatindranath Swain] Member (Technical) SN/MS/AK Comp App (AT) (CH) (Ins) No. 560/2025 Page 3 of 3