Case Note & Summary
The National Company Law Appellate Tribunal dealt with two appeals concerning the delay in filing under the Insolvency and Bankruptcy Code, 2016 (IBC). The appeals arose from an order dated 07.10.2025 passed by the National Company Law Tribunal (NCLT), which was contested by the Liquidator of Trend Electronics Limited. The Liquidator filed an appeal on 29.11.2025, claiming that the limitation period should be computed from the date of knowledge of the order, which was allegedly obtained on 30.10.2025 when the order was uploaded on the NCLT website. The Appellant argued that the time taken to obtain a certified copy of the order should be excluded from the limitation period. The Respondents contended that the limitation period should start from the date of pronouncement of the order, which was 07.10.2025, and that the appeal was filed beyond the permissible period. The Tribunal analyzed the arguments and concluded that the limitation period commenced on the date of pronouncement, rejecting the Appellant's claims regarding the date of knowledge. The Tribunal emphasized that the appeal was filed beyond the outer limit of 45 days, thus it could not be condoned. The second appeal filed by the State Bank of India was also dismissed for similar reasons, as it was filed well beyond the statutory limits. The Tribunal reiterated the strict timelines prescribed under the IBC to ensure timely resolution of insolvency proceedings.
Headnote
A) Insolvency Law - Limitation Period - Commencement of Limitation - Insolvency and Bankruptcy Code, 2016, Section 61 - The court held that the limitation period for filing an appeal under Section 61 of the IBC commences from the date of pronouncement of the order, not from the date of knowledge of the order. The appeal was filed beyond the statutory outer limit of 45 days, thus not condonable (Paras 26-28).
Issue of Consideration
Whether the limitation for filing the appeal commenced from the date of knowledge of the impugned order or from the date of pronouncement of the order.
Final Decision
The Tribunal dismissed both appeals for being filed beyond the statutory outer limit of 45 days as prescribed under Section 61 of the IBC. The appeal was filed on 29.11.2025, which was beyond the permissible period, thus not condonable.
Law Points
- Limitation period
- Condonation of delay
- Insolvency and Bankruptcy Code
- 2016
- Knowledge of order
- Pronouncement of order
