- (1.) This appeal is directed against an order passed by the hon'ble first court on April 28, 2010, on an application being filed before the court for enlargement of the time to file the certified copy of the sanctioned scheme with the Registrar of Companies beyond the permitted time.
(2.) It appears that the matter was mentioned before the company court when the court declined to condone the delay. Hence, a formal application was filed on March 22, 2010.
(3.) The hon'ble company court after hearing the parties dismissed the application filed by the Appellant when his Lordship held as follows: "Upon the applicants not filing the certified copy of the order sanctioning the scheme within a month of the date of receipt thereof, a presumption arose that these applicants had abandoned the same. The applicants could have rebutted the presumption in the present application or in the supplementary affidavit that was permitted to be filed. The applicants have not addressed such matter in either the application and the supplementary affidavit. The time limit fixed by a statute or by statutory rules cannot be flagrantly flouted nor can the court be expected to condone such conduct without any plausible explanation being furnished.";