Appeal Time-Barred Under Section 61(2) IBC: Limitation Runs From Pronouncement Date, Not Communication or Knowledge

SC upheld the NCLAT decision dismissing the corporate insolvency appeal as time-barred under Section 61 of the Insolvency and Bankruptcy Code, 2016. It affirmed that limitation for filing an appeal under Section 61(2) commences from the date of pronouncement of the impugned order, not from the date of its knowledge or communication to the appellant. The appellant's plea for condonation of delay was rejected, as no "sufficient cause" was shown to justify filing beyond the prescribed period. Consequently, the appeal was dismissed and the NCLAT judgment sustained.

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The Supreme Court affirmed the National Company Law Appellate Tribunal's (NCLAT) order dismissing the appellant's challenge as time-barred under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Court held that it found "no good ground and reason to interfere with the impugned judgment" of the NCLAT, which had dismissed the appeal on the basis that it was "barred by limitation as per the provisions of Section 61 of the Insolvency and Bankruptcy Code, 2016." By upholding the NCLAT's view, the Supreme Court reinforced the mandatory and inflexible nature of the statutory limitation period governing appeals under the IBC. The appeal and all pending applications were dismissed.

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