Oct 26

No power to condone delay by DRT in filing of appeal

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International Asset Reconstruction Company of India versus The Official Liquidator of Aldrich Pharmaceuticals Ltd. & Ors. – The bench comprising of Justice AM Sapre and Justice Navin Sinha of the Hon’ble Supreme Court of India has held in this judgment that the Debt Recovery Tribunals have no power to condone the delay under Section of the Limitation Act in filing an appeal under Section 30(1) of the Recovery of Debts and Bankruptcy Act, 1993 if the statutory period of 30 days expires. The Court further held that the proceedings before a Tribunal cannot be considered to be at par with that before a Court. The Tribunal derives power from the Statute creating it and cannot exercise any power which is not expressly conferred by it.

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