Limitation under the Insolvency Code runs from pronouncement, and delay beyond the 15-day condonation limit cannot be excused.

The limitation period for filing an appeal under the Insolvency and Bankruptcy Code was held to run from the date of pronouncement of the order, not from the date of uploading. Because the proviso to Section 61(2) allows condonation only up to 15 days beyond the prescribed period, a 17-day delay fell outside the Tribunal's power to condone it. The condonation application was therefore rejected.

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Issues: Whether the delay of 17 days in filing the appeal could be condoned in view of the statutory limit under the Insolvency and Bankruptcy Code, 2016.

Analysis: The limitation for filing the appeal was held to commence from the date of pronouncement of the order and not from the date of uploading. The proviso to Section 61(2) permits condonation only up to 15 days beyond the prescribed period, and the delay sought to be condoned exceeded that limit. The application for condonation was therefore beyond the Tribunal's authority to grant relief.

Conclusion: The delay could not be condoned and the application was rejected.

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