Back
SUPREME COURT OF INDIA
Dr Dhananjaya Y Chandrachud, CJ., Pamidighantam Sri Narasimha, J.
PEC Ltd – Appellant
Versus
M/s Phulchand Exports Private Limited – Respondent
Civil Appeal No of 2023 [Diary No 37293/2022]
Decided On : 05-01-2023
ORDER
1 There is a delay of 21 days in filing the appeal under Section 62 of the Insolvency and Bankruptcy Code 2016. The delay is beyond the maximum period which is condonable in terms of the statute.
2 Hence, the civil appeal is dismissed on the ground of limitation.
3 Pending applications, if any, stand disposed of.
(1) Appeal – Limitation – Time bound resolution is essence of IBC and a time-barred appeal cannot be entertained.(2) Supreme Court Rules, 2013, being a procedural law must be read in a manner to aid ....
The IBC mandates strict adherence to limitation periods for appeals, emphasizing timely resolution in insolvency proceedings.
The court found no reason to interfere with the judgment under appeal.
The NCLAT cannot condone delays beyond the statutory maximum of 45 days under the IBC, emphasizing strict adherence to limitation periods in insolvency processes.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
