Limitation for company appeals under the Insolvency and Bankruptcy Code made the appeal time-barred after expiry of the condonable period.

Limitation for filing a company appeal under the Insolvency and Bankruptcy Code was computed from 04.01.2021, when the appellant was taken to have knowledge of the impugned order. On that basis, the 30-day appeal period expired on 03.02.2021, and the further condonable period of 15 days under the proviso to Section 61(2) ended on 18.02.2021. As the appeal was filed only on 25.02.2021, it was treated as time-barred and liable to be dismissed.

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Issues: Whether the company appeal was barred by limitation.

Analysis: The relevant date for reckoning limitation was taken as 04.01.2021, when the appellant was held to have knowledge of the impugned order. On that basis, the 30-day limitation period expired on 03.02.2021, and even with the further condonable period of 15 days under the proviso to Section 61(2) of the Insolvency and Bankruptcy Code, 2016, the last permissible date was 18.02.2021. The appeal was filed only on 25.02.2021.

Conclusion: The appeal was held to be barred by limitation and liable to be dismissed.

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