On 29.11.2021, the Hon’ble Supreme Court of India (hereinafter “SCI”) speaking through Hon’ble Mrs. Justice Indira Banerjee unanimously set aside the judgment of the National Company Law Appellate Tribunal (Hereinafter “NCLAT”) which dismissed the appeal filed against the order dated 09.07.2021 passed by the Adjudicating Authority. [GPR Power Solutions Private Limited Through Mr. S. Damodaran, Ceo of Appellant v. Mr. Supriyo Chaudhuri (RP of Rohit Ferro Tech Limited) and Others, 2021 SCC OnLine SC 1328]. The case primarily concerns the condonation of delay in filing of a claim by the Appellant against the Corporate Debtor under section 60(5) of the Insolvency and Bankruptcy Code, 2016 [hereinafter ‘IBC’].
