Permod Kohli, J. - (1.) THE validity of the order dated November 24, 2006, passed by the Principal Bench of the Company Law Board, New Delhi, in C. P. No. 114 of 2006 and C. A. No. 428 of 2006, has been questioned in this company appeal. At the time of filing the appeal, an application (C. M. No. 109 of 2007) was filed by the appellant under Section 5 of the Limitation Act, 1963, seeking condonation of delay of 140 days in preferring the appeal against the impugned order before this Court. However, subsequently, another application C. M. A. No. 114 of 2007 has been filed on May 21, 2007, under Section 14 of the Limitation Act, 1963, seeking exclusion of time during which the applicant -appellant was pursuing the appeal before the hon'ble Delhi High Court. Further, prayer was made in paragraph No. 10 of this application for withdrawal of Misc. Application No. 109 of 2007, in view of the filing of fresh application under Section 14 of the Limitation Act. It may be noticed here that C. M. No. 109 of 2007 under Section 5 of the Limitation Act and the accompanying appeal were presented before this Court on May 15, 2007. Upon notice, respondents Nos. 1 and 2 who are the contesting respondents have filed their detailed objections and opposed the application.
(2.) BOTH the sides made their detailed submissions on the question of limitation. It may be useful to briefly notice the circumstances delaying the filing of the present application and the appeal before this Court. The appellant, herein, filed company petition under Sections 397 and 398 of the Companies Act, 1956, before the Company Law Board being C.P. No. 114 of 2006 and also C. A. No. 428 of 2006, wherein interim direction was sought which has been declined vide order impugned dated November 24, 2006. An appeal under Section 10F of the Companies Act, 1956, against this order was filed in the hon'ble Delhi High Court being Co. A. (SB) No. 2 of 2007 accompanied with C. A. No. 183 of 2007 on February 17, 2007. The matter was taken up on February 19, 2007, and an objection was raised regarding jurisdiction of the hon'ble Delhi High Court to deal with the matter. The case was, accordingly, adjourned to April 16, 2007 and on the said date, the appellant withdrew the appeal as also application for condonation of delay filed before the hon'ble Delhi High Court.
(3.) THE period for limitation prescribed under Section 10F is sixty days extendable to another sixty days for sufficient reasons. As the appeal before the Delhi High Court itself was beyond the period prescribed under Section 10F, an application was filed before the Delhi High Court under Section 5 of the Limitation Act seeking condonation of delay of 23 days in filing the appeal. On question of jurisdiction being raised counsel for the appellant withdrew the appeal and application and the hon'ble Delhi High Court passed the following order on April 16, 2007: Learned Counsel for the appellant seeks to withdraw the appeal and application for condonation of delay to file the appeal and the application in the court having jurisdiction. Learned Counsel for the respondent does not object to it subject to taking all the objections available to him. The appeal and the application are dismissed as withdrawn with liberty to file it before appropriate court having jurisdiction.;