Case Note & Summary
The case involved an appeal filed by S Ten Lighting against Orkus Pvt. Ltd concerning a delay in refiling the appeal. The appellant sought to condone a delay of 27 days in refiling and an additional 20 days in filing the appeal, which was e-filed on 25.03.2026, following an order passed on 03.02.2026. The Tribunal noted that its jurisdiction to condone delays was limited to 15 days as per Section 61(2) of the Insolvency & Bankruptcy Code, 2016. Citing the Supreme Court's ruling in 'National Spot Exchange Limited v. Anil Kohli', the Tribunal emphasized that it could not extend this limit. Consequently, the applications for condonation of delay were rejected, resulting in the dismissal of the memo of appeal. The decision underscored the strict adherence to statutory timelines in insolvency proceedings.
Headnote
A) Insolvency Law - Delay Condonation - Jurisdiction Limits - Insolvency & Bankruptcy Code, 2016, Section 61(2) - Tribunal's jurisdiction to condone delay is limited to 15 days as per the provisions of the Code. The Supreme Court clarified that the Tribunal cannot condone delays beyond this limit, leading to the rejection of the delay condonation application and the appeal itself. Held that the application for condonation of delay was rejected (Paras 3-5).
Issue of Consideration
Whether the Tribunal can condone a delay beyond 15 days in filing an appeal under the Insolvency & Bankruptcy Code, 2016.
Final Decision
The Tribunal rejected the delay condonation application and consequently dismissed the memo of appeal, adhering to the jurisdictional limits set by the Insolvency & Bankruptcy Code, 2016.
Law Points
- Delay condonation
- jurisdiction limits
- Insolvency & Bankruptcy Code
- 2016
- Supreme Court precedent
