Case Note & Summary
The case involved two appeals filed by individual home buyers against an order of the National Company Law Tribunal (NCLT) dated 18 November 2025, which dismissed their application as premature. The appellants sought to condone a delay of 40 days in filing their appeals, claiming that the delay was due to the late communication of the NCLT's order and the closure of their counsel's office during the holiday season. The court noted that the limitation period for filing the appeal was 30 days from the date of pronouncement of the order, which expired on 18 December 2025. The appellants filed their appeals on 3 February 2026, which was beyond the stipulated period. The court emphasized that the limitation period starts from the date the order is pronounced in open court, and not from the date it is uploaded online. The court referred to precedents that established the principle that the time taken to obtain a certified copy of the order could only be excluded if the application for the copy was made within the limitation period. The appellants did not apply for a certified copy in a timely manner, which contributed to the dismissal of their applications to condone the delay. Ultimately, the court dismissed both the delay condonation applications and the appeals due to the failure to comply with the statutory time limits set forth in the Insolvency and Bankruptcy Code.
Headnote
A) Insolvency Law - Delay Condonation - Limitation Period for Appeals - Insolvency and Bankruptcy Code, 2016, Section 61 - The court held that the limitation period for filing appeals under Section 61(2) starts from the date of pronouncement of the order, not from the date of uploading. The appellants failed to demonstrate due diligence in securing a certified copy of the order, leading to the dismissal of their delay condonation applications (Paras 17-18).
Issue of Consideration
Whether the delay in filing the appeals against the impugned order could be condoned.
Final Decision
The court dismissed the delay condonation applications and the appeals, stating that the appeals were filed beyond the stipulated time limits set by the Insolvency and Bankruptcy Code.
Law Points
- Limitation period
- delay condonation
- insolvency appeals
- pronouncement of order
- certified copy requirement
