Copy Of Other Prospective Resolution Applicants' Plans Cannot Be Shared When Suspended Management Is Also A Resolution Applicant: NCLAT

The Delhi High Court examined the sufficiency of reasons when determining whether to condone delays in filing appeals under Section 37(1) of the Arbitration Act. The Court ruled that the number of days delayed would be an important factor in deciding the merits of the delay application. The ruling emphasized that while the length of delay is a significant factor, the reason for the delay must be justifiable. If the reason for delay is not satisfactory, even a minor delay could lead to the rejection of the application for condonation.