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D. Y. CHANDRACHUD, J B PARDIWALA, MANOJ MISRA
Sanjay Pandurang Kalate – Appellant
Versus
Vistra ITCL (India) Limited – Respondent
Headnote: Read headnote
JUDGMENT :
Dhananjaya Y Chandrachud, CJI.
1. Admit.
2. These appeals arise under Section 62 of the Insolvency and Bankruptcy Code 20161[“IBC”] from a judgement dated 14 September 2023 of the National Company Law Appellate Tribunal.2[“NCLAT”] The NCLAT dismissed the appeal against the order of the National Company Law Tribunal, Mumbai3[“NCLT”] on the ground of limitation.
3. At the outset, it is clarified that the findings in this judgement are limited to a determination of the question of limitation. The detailed facts and averments on the merits of the larger dispute between the parties are not analysed in the judgment.
4. Briefly, respondent 1, Vistra ITCL (India) Limited filed an application under Section 7 of the IBC seeking the initiation of the Corporate Insolvency Resolution Process4[“CIRP”] against Evirant Developers Private Limited, the Corporate Debtor. The appellant is a former dire
Appeal – Limitation stops running on e-filing of appeal before NCLAT and not on presentation of physical copy – Date on which limitation begins to run is intrinsically linked to date of pronouncement....
The main legal point established in the judgment is the importance of clarity and consistency in administrative guidance, particularly regarding the computation of limitation for filing an appeal. Th....
(1) Appeal – Period of limitation – Any party which is aggrieved by decision of NCLT can file appeal before NCLAT – Statutory time limit of 30 days within which appeal can be preferred, is extendable....
The NCLAT cannot condone delays beyond the statutory maximum of 45 days under the IBC, emphasizing strict adherence to limitation periods in insolvency processes.
Delay in filing an appeal under the IBC cannot be excused based on lack of knowledge regarding the proceedings; Limitation must be strictly construed.
The court recognized the importance of e-filing in legal procedures while addressing challenges related to limitation periods in appeals before the NCLAT.
Appeal – Limitation – Though National Company Law Appellate Tribunal is clothed with powers to exempt and to extend time under Rules 14 and 15 of NCLAT Rules respectively, such powers cannot be exerc....
The IBC mandates strict adherence to limitation periods for appeals, emphasizing timely resolution in insolvency proceedings.
The limitation for filing an appeal begins upon the pronouncement of the order and not its publication, making delays uncondonable if not filed timely.
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