Supreme Court holds that limitation under Section 62 of IBC begins from date of NCLAT order, not from receipt of certified copy, rejecting delayed appeals based on procurement delays.
Limitation Period Starts on NCLAT Order Date, Not Copy Receipt
The Supreme Court has ruled that the period of limitation for filing an appeal against an order of the National Company Law Appellate Tribunal (NCLAT) under Section 62 of the Insolvency and Bankruptcy Code (IBC) begins from the date of the order itself, not from the date of receipt of the certified copy.
This decision resolves a recurring issue regarding delays in obtaining certified copies. The Court dismissed arguments that the limitation should exclude time taken to apply for the copy, holding that such delays do not extend the statutory window. The ruling reinforces timely compliance with filing requirements.
The time taken to obtain a certified copy cannot be excluded from the limitation calculation; appellants must act promptly upon knowledge of the order.
For practitioners: Immediate follow-up is essential upon an NCLAT order. Appeals must be drafted and filed within 30 days from the date of the order, regardless of whether the certified copy has been received. Coordination with tribunal registries for expedited processing is now a necessity.
Citations
- Section 62, Insolvency and Bankruptcy Code
