Section 4 of Limitation Act applies only to 30-day prescribed period under IBC Section 61(2), not 15-day condonable period; vacation benefit unavailable if commencing after 30 days, rendering appeals beyond 45 days time-barred.

JUDGMENT

(Hybrid Mode)

Per : Justice Sharad Kumar Sharma, Member (Judicial):

1. In the Company Appeal (AT) (CH) (INS) No. 367 / 2025, the incidental question, which could have been the subject matter of consideration, would be as regards to the question of maintainability of the Company Appeal itself, as it was arising out of a proceedings of IA (IBC) (Plan) No. 8 / 2024, resulting into approval of Resolution Plan. But, owing to the fact that the Company Appeal is accompanied with a Condone Delay Application being IA No. 1100 / 2025 and the same has been vehemently opposed by the Respondents Counsels, we will have to consider and answer the arguments that has been extended by the Ld. Counsels for the Appellant in support of the Condone Delay Application, before we venture into the Company Appeal itself, which we may not be required to, since the question of maintainability of the Appeal as against the order of approval of Resolution Plan will have to be decided first.

2. Few chronological dates, which would be relevant for the purposes of the instant Company Appeal would be that;

(a) The order, which is under challenge was pronounced on 26.03.2025.

(b) The Company Appeal was e-filed before the Registry of this Tribunal of 11.05.2025.

(c) The impugned order of the Company Appeal was uploaded by the Tribunal on 27.03.2025.

(d) The period of limitation i.e. 30 days as prescribed under sub-section (1) of Section 61 of I & B Code, 2016, computed from the date of pronouncement ends on 25.04.2025.

3. The Appellant’s contends that, the limitation to file the Appeal, may be extended by another 15 days, which is permissible under the proviso to sub-section (2) of Section 61 of the Code as he has shown sufficient cause and that, since the extended period was expiring during the vacations period of this Bench, the benefit of Section 4 of the Limitation Act, 1963 may be extended in his case by excluding the period, which was falling during the vacation.

4. This has been objected by the Ld. Counsel for the Respondent contending that, the number of days of delay, which has been sought to be condoned is ``16 days’’, which is beyond the period of 15 days for which this Appellate Tribunal can condone the delay as per Section 61(2) of the Code and therefore, the Appeal is barred by limitation.

5. The Ld. Counsel for the Respondent, has further submitted that, the extension of the benefit of limitation on account of intervening vacation as prescribed by Section 4 of Limitation Act, will not be available to the Applicant / Appellant in the instant case because the vacation period commences only from 01.05.2025 and it does not fall within the limitation period of 27.03.2025 - 25.04.2025 and the said benefit will not be available, if vacation commences during the condonable period of 15 days. Section 61 of I & B Code, 2016, which provides for limitation period for filing of an Appeal is read as under:

``(1) Notwithstanding anything to the contrary contained under the Companies Act 2013 (18 of 2013), any person aggrieved by the order of the Adjudicating Authority under this part may prefer an appeal to the National Company Law Appellate Tribunal.

(2) Every appeal under sub-section (1) shall be filed within thirty days before the National Company Law Appellate Tribunal:

Provided that the National Company Law Appellate Tribunal may allow an appeal to be filed after the expiry of the said period of thirty days if it is satisfied that there was sufficient cause for not filing the appeal but such period shall not exceed fifteen days.’’

6. His contention is that, the statutory pe