NCLAT addressed the computation of limitation periods for filing ...

IBC Appeal Time Limits: 30-Day Period Extendable on Holiday, 15-Day Condonation Period Cannot Be Extended Under Section 61

February 25, 2025

Case Laws IBC AT

NCLAT addressed the computation of limitation periods for filing appeals under IBC. The tribunal held that while the 30-day limitation period under Section 61 can be extended when the last day falls on a tribunal holiday (per Rule 3 of NCLAT Rules), the 15-day condonable period under Section 61(2) cannot be similarly extended. In this case, the appeal filed on 17.09.2024 was beyond both the 30-day limitation period (ending 30.08.2024) and the 15-day condonable period. Despite the appellant's organizational approval requirements constituting reasonable cause for delay, the appeal was dismissed as it exceeded the maximum condonable period. The ruling clarifies that Rule 3 of NCLAT Rules and Section 4 of Limitation Act cannot extend the statutory 15-day condonation limit.

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NCLAT addressed the computation of limitation periods for filing ...

IBC Appeal Time Limits: 30-Day Period Extendable on Holiday, 15-Day Condonation Period Cannot Be Extended Under Section 61

February 25, 2025

Case Laws IBC AT

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