Appeal rights to the appellate tribunal subject to strict time limits with limited condonation for sufficient cause. Appeals from adjudicating authority orders in corporate insolvency are to the National Company Law Appellate Tribunal and must be filed within the ... Summary
Appeal rights to the appellate tribunal subject to strict time limits with limited condonation for sufficient cause.
Appeals from adjudicating authority orders in corporate insolvency are to the National Company Law Appellate Tribunal and must be filed within the statutory time limit, with the tribunal empowered to condone delay only for sufficient cause and only for the limited additional period provided. Appeals against approved resolution plans, liquidation orders and initiation orders are confined to specified grounds including contravention of law, material irregularity or fraud, failure to provide for operational creditor claims as specified by the Board, improper priority for insolvency resolution costs, and non compliance with Board criteria.
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