Summary: Metalrod Private Limited filed a request way back in January 2022, but due to multiple issues with filing it correctly, it took 612 days to get things moving. Now, the Delhi High Court has stepped in to sort things out.
Metalrod Private Limited filed a request on January 21, 2022, under the Insolvency and Bankruptcy Code. The problem? The request had to be filed again nine times due to mistakes, which is way beyond the seven-day limit set by Rule 28 of the National Company Law Tribunal Rules, 2016.
According to the court documents, the request was first filed on January 21, 2022, and went through checks multiple times: - Initial filing: January 21, 2022 - Subsequent refilings: January 11, 2023, January 19, 2023, and more - Final registration: September 25, 2023
This process took 612 days, far exceeding the usual timeframe.
Judge Mini Pushkarna of the Delhi High Court noted that the Registrar allowed these refilings due to procedural issues and system-generated permissions. The court emphasized that the Registrar should have made sure the mistakes were fixed within seven days or required a good reason for the delay.
"The Registrar had to carry out the said exercise of satisfying itself," Judge Pushkarna stated.
To prevent such delays in the future, a Standard Operating Procedure (SOP) was introduced on March 19, 2025. This SOP aims to streamline the filing process and ensure compliance with the rules.
The court directed that the National Company Law Tribunal (NCLT) must decide whether Metalrod Private Limited had a good reason for the delay before proceeding with the case. This decision will determine if the request can move forward based on its merits.
The court has not yet reached a final decision on whether Metalrod Private Limited had a valid reason for the delay. The outcome of this decision will be crucial for Metalrod's next steps.
