2020 (11) TMI 1108 - SCH - Insolvency and Bankruptcy

Condonation of delay of 51 days in filing appeal - sufficient cause for delay provided or not - HELD THAT - Section 62 of the Insolvency and Bankruptcy Code 2016 provides a period of forty five days from the date of the receipt of an order of the National Company Law Appellate Tribunal for filing an appeal before this Court. Under sub-section (2), this Court is empowered to condone a delay of a further period not exceeding fifteen days for sufficient cause. The appeal is barred by limitation since the delay of 51 days is beyond the period of delay which can be condoned under sub-section (2) of Section 62 - the appeal is dismissed on the ground that it is barred by limitation.

Summary

The Supreme Court dismissed the appeal as it was filed 51 days late, exceeding the permissible limit of 45 days under Section 62 of the Insolvency and Bankruptcy Code 2016.