The NCLAT has rejected an appeal regarding the Insolvency and Bankruptcy Code as the filing was made beyond the 45-day limit, emphasizing lack of jurisdiction to condone such delays.
NCLAT Affirms No Power to Condone Delay Beyond 45 Days in IBC Appeals
The NCLAT has dismissed an appeal regarding a filing under the Insolvency and Bankruptcy Code (IBC) on the grounds that it was made beyond the permitted 45-day limitation period. The Tribunal reaffirmed its stance that it lacks jurisdiction to condone delays past this statutory outer limit.
This ruling serves as a critical reminder of the time-sensitive nature of appeals under the IBC. The NCLAT’s firm adherence to the 45-day limitation creates a precedent stressing the need for timely action by those involved in insolvency proceedings.
Legal practitioners must advise clients of the critical nature of filing timelines under the IBC, as even minor delays could result in dismissal of appeals, affecting their rights within insolvency resolutions.
Citations
- NCLAT Order (2026) NCLAT
