Statutory outer limit on condonation of delay under insolvency appeals barred extension beyond the prescribed period.

Section 61(2) of the Insolvency and Bankruptcy Code allows an appeal within the prescribed period and permits condonation only up to the further period expressly provided by the statute. The Appellate Tribunal has no jurisdiction to extend time beyond that outer limit. Because the delay in filing the appeal exceeded the statutory ceiling, condonation could not be granted. The refusal to condone delay was therefore upheld and the appeal failed.

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Issues: Whether the National Company Law Appellate Tribunal could condone a delay of 283 days in filing the appeal under Section 61(2) of the Insolvency and Bankruptcy Code, 2016.

Analysis: Section 61(2) permits an appeal to be filed within the prescribed period and empowers the Appellate Tribunal to condone delay only up to the further period expressly provided by the statute. The delay in the present case exceeded that statutory ceiling, and no jurisdiction remained with the Appellate Tribunal to extend time beyond the outer limit.

Conclusion: The refusal to condone the delay was upheld and the appeal failed.

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