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of <h1>Appeals Under Section 61 of IBC: Grounds Include Legal Issues, Resolution Plan Irregularities, and Fraud in Liquidation Orders.</h1> Under Section 61 of the Insolvency and Bankruptcy Code, 2016, any person aggrieved by an order of the Adjudicating Authority may appeal to the National Company Law Appellate Tribunal (NCLAT) within 30 days. NCLAT may extend this period by 15 days if there is sufficient cause. Appeals against resolution plan approvals can be made on grounds such as legal contravention, irregularities by the resolution professional, improper debt provision for operational creditors, and non-compliance with Board criteria. Appeals against liquidation orders or initiation of insolvency processes can be filed on grounds of material irregularity or fraud.
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