Supreme Court holds that the 60-day limitation period for appeals under IBC Section 62 begins from the date of NCLAT’s order, not the receipt of certified copy, aligning with statutory interpretation principles.
Limitation Period for IBC Appeals Begins from Order Date: SC
The Supreme Court has ruled that the limitation period for filing an appeal under Section 62 of the Insolvency and Bankruptcy Code (IBC) begins from the date of the NCLAT’s order, not from the date of receipt of the certified copy. This clarifies a critical procedural ambiguity affecting appeal timelines.
The Court rejected the argument that limitation should exclude the time taken to obtain the certified copy. Citing Section 12(2) of the IBC and Article 137 of the Limitation Act, 1963, it held that the law presumes availability of orders and places the burden on the appellant to act promptly.
"The period taken to secure the certified copy does not extend the limitation window,"the bench observed, aligning with its earlier decision in Manish Kumar v. Union of India (2022) 7 SCC 1.
This decision impacts all appeals before the Supreme Court arising from NCLAT rulings. Practitioners must now calculate limitation strictly from the date of the impugned order and initiate steps for certified copies immediately. Delay in obtaining records will no longer serve as a ground for condonation of delay under Article 137 unless exceptional circumstances are established.
Citations
- Insolvency and Bankruptcy Code, Section 62
- Limitation Act, 1963, Article 137
- Manish Kumar v. Union of India (2022) 7 SCC 1
