Statutory limitation under the Insolvency and Bankruptcy Code barred a delayed appeal because the condonable period was exceeded.

An appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 must be filed within forty-five days of receipt of the National Company Law Appellate Tribunal's order, and delay can be condoned only by a further fifteen days for sufficient cause. Where the appeal is filed beyond that maximum condonable period, the statutory limit cannot be extended. On the stated facts, the appeal was filed 51 days late, so it was barred by limitation and condonation was unavailable.

---

---

Issues: Whether the appeal was barred by limitation under Section 62 of the Insolvency and Bankruptcy Code, 2016, and whether the delay could be condoned beyond the statutory maximum.

Analysis: Section 62 of the Insolvency and Bankruptcy Code, 2016 allows an appeal to this Court within forty-five days from receipt of the order of the National Company Law Appellate Tribunal. Sub-section (2) permits condonation of delay only up to a further period of fifteen days for sufficient cause. The appeal was presented with a delay of 51 days, which exceeded the maximum condonable period.

Conclusion: The appeal was barred by limitation and the delay could not be condoned. The decision is against the appellant.

---