The limitation period for filing an appeal under Section 61(2) of the Insolvency and Bankruptcy Code commences from the date of order pronouncement in open court, and the statutory maximum period of 45 days (30 days plus 15 condonable days) cannot be extended.

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

These are the two Company Appeals, being Company Appeal (AT) (CH) (INS) No. 54 / 2026 and Company Appeal (AT) (CH) (INS) No. 56 / 2026, which are listed today for consideration.

The Interlocutory Applications, being IA No. 135 / 2026 & IA No. 142 / 2026 has been respectively preferred in the two Company Appeals wherein the prayer has been made by the Appellant for condonation of 14 days of delay that has chanced in preferring the Company Appeals.

2. The precise facts for consideration are that;

The Appellant in the instant Company Appeal being Company Appeal (AT) (CH) (INS) No. 54 / 2026, happens to be an unsecured Financial Creditor / Home Buyer of the Corporate Debtor i.e. M/s. Lokaa Developer Pvt. Ltd., whose claim is in relation to Flat No. 2001 as located in ``M1’’ Project was admitted. But, since the flat was double booked and under the approved Resolution Plan, he was denied any flat or a definite payout and was restrictively left confined only to certain speculative, contingent and uncertain recoveries from the avoidance transactions, which happens to be in distinction to other 192 similarly placed home buyers who had received their flats. The Appellant contended that, he had initially voted for the Plan on the basis of incomplete information, but later, withdrew the support, and now he challenges the Impugned Order of 28.10.2025.

3. The Ld. Adjudicating Authority by virtue of the impugned order of 28.10.2025 as passed in IA (IBC) / Plan / 11 (CHE) / 2024, as preferred in CP (IB) / 124 (CHE) / 2023, while exercising its jurisdiction under Section 30(6) of I & B Code, to be read with Section 60(5) of I & B Code, 2016, had accorded an approval to the Resolution Plan, submitted by Successful Resolution Applicant being, M one Flat Owners Association.

4. In accordance with the Affidavit that has been filed by the Appellant in support of the Memorandum of Appeal, it is shown to have been verified and sworn on 11.12.2025, and in accordance with the report of the Registry, the Appeal was efiled before the Registry on 13.12.2025, wherein the Registry has reported that there happens to be a delay of 16 days, that has chanced in preferring the Appeal. The Appeal is accompanied with a Condone Delay Application being IA No. 135 / 2026, where the Appellant has mentioned and sought a condonation of 14 days of delay that, has chanced in preferring the Appeal, which has been otherwise reported by the Registry to be 16 days.

5. If the grounds taken in the Application thus preferred for seeking condonation of delay is considered, the Appellant has submitted that the impugned order dated 28.10.2025 came to the knowledge of the Appellant, only on intimation made by Resolution Professional and upon uploading of the order on the E-portal of the Ld. NCLT on 30.10.2025 and that, he had filed the Appeal by preferring the same before the Registry of this Appellate Tribunal on 13.12.2025. He submits that, the reasons for the said delay has been given in Para 2(f) which are that the Appellant had to obtain the copy of the Impugned Order, and thereafter he had to get the relevant pleadings formulated after seeking proper legal advice for the purposes of putting a challenge to the impugned order, and to collate the records and it was only after collating the records, he could prefer on 13.12.2025.

Hence, he submits that, the computation of limitation should start from the date of uploading of the order, and in that case, the delay in fi