2026 Supreme(Online)(NCLAT) 597

NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Barun Mitra, Member (Technical)
Mr. Divyesh Desai – Appellant
Versus
Life Insurance Corporation of India Limited & Ors – Respondent
Comp. App. (AT) (Ins) No. 2004 of 2025 | Comp. App. (AT) (Ins) No. 120 of 2026

Limitation for filing appeals under Section 61(2) IBC begins from the date of pronouncement of the order in open court, not from the date of uploading or knowledge, and condonation is limited to 15 days beyond the 30-day limitation period.

Headnote:(A) Insolvency and Bankruptcy Code, 2016 - Section 61(2) - Limitation for filing appeal - Limitation begins from date of pronouncement of order in open court, not from date of knowledge or date of uploading of order - Adjudicating Authority had pronounced order in open court on 07.10.2025, as admitted by Appellant in rejoinder - Appeal filed on 53rd day - Statutory outer limit of 45 days (30 days + 15 days condonable period) expired on 21.11.2025 - NCLAT has no jurisdiction to condone delay beyond statutory limit. (Paras 3, 16, 23, 27, 28)

(B) Insolvency and Bankruptcy Code, 2016 - Section 61(2) - Limitation Act, 1963 - Section 12(2) - Time taken for obtaining certified copy can be excluded only if application for certified copy is made within limitation period - Appellant applied for certified copy only after uploading of order, not from date of pronouncement - Failure to apply for certified copy diligently renders appeal time-barred. (Paras 25, 26, 33)

(C) Insolvency and Bankruptcy Code, 2016 - Section 61(2) - Power of NCLAT to condone delay - NCLAT being a creature of statute, cannot extend limitation on equitable grounds beyond the period stipulated in Section 61(2) - Once 30 days + 15 days expire, NCLAT has no jurisdiction. (Para 27)

Facts of the case:
Two appeals were filed under Section 61 of the IBC, 2016 challenging a common impugned order dated 07.10.2025 passed by the NCLT, Mumbai Bench-II. The first appeal was filed by the Liquidator (Appellant) on 29.11.2025, and the second was filed by State Bank of India (Appellant) on 11.12.2025. Both appeals were accompanied by applications for condonation of delay. The Liquidator claimed that the order was pronounced on 07.10.2025 but uploaded on 30.10.2025, and that limitation should be computed from the date of knowledge (uploading date). The Respondent argued that the order was pronounced in open court on 07.10.2025 in the presence of the Appellant, and that the appeal was filed beyond the statutory outer limit of 45 days. The Appellant in its rejoinder admitted that the Adjudicating Authority had indicated that the company appeal "deserved to be allowed" on 07.10.2025. (Paras 2, 4, 20)

Findings of Court:
The clock of limitation started ticking from 07.10.2025, being the date of pronouncement of the order in open court. The appeal was filed on 29.11.2025, which was beyond the statutory outer limit of 45 days (30 days + 15 days). NCLAT has no jurisdiction to condone any delay beyond the period stipulated under Section 61(2) of the IBC. The appeal was dismissed as time-barred. (Paras 26, 28)

Issues: 1. Whether limitation under Section 61(2) IBC runs from the date of pronouncement of the order or from the date of knowledge/uploading of the order. 2. Whether the appeal was filed within the condonable period of 15 days after expiry of limitation.

Ratio Decidendi: The limitation period under Section 61(2) IBC begins from the date of pronouncement of the order in open court. Since the Appellant admitted that the order was pronounced in open court on 07.10.2025, limitation commenced from that date. The appeal was filed on the 53rd day, which was beyond the statutory outer limit of 45 days. NCLAT cannot condone delay beyond this limit. Result : Delay condonation applications dismissed. Both Memos of Appeal and related I.A.s rejected.