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As per the provisions of the Insolvency and Bankruptcy Code 2016, an appeal is to be filed before the NCLAT within 45 days. The resolution professional had filed an appeal against the order of NCLT wherein there was a delay of 14 days.
The National Company Law Appellate Tribunal has recently held that for the calculation of limitation, if an application is filed after the period of limitation, then the time taken to prepare a certified copy cannot be excluded.
“When the application is filed beyond the period of limitation, the Appellant is not entitled to exclude the period during which period certified copy remains under preparation. Thus, the Appellant is not entitled for any exclusion of the period during which copy was under preparation,” the order reads.
The bench, comprising Chairperson Justice Ashok Bhushan, Technical Member Barun Mitra, and Technical Member was hearing an appeal against an order of the NCLT.
As per the provisions of the Insolvency and Bankruptcy Code 2016, an appeal is to be filed before the NCLAT within 45 days.
The resolution professional had filed an appeal against the order of NCLT wherein there was a delay of 14 days.
The order was passed by the NCLT on 03.01.2023, and this Appeal was e-filed on 01.03.2023, i.e., beyond 45 days from the passing of the order.
The counsel appearing for the appellant contended that the delay is only 14 days since the period from 14.02.2023 to 27.02.2023 has to be excluded, which period was taken for giving the certified copy of the order.
The tribunal noted that the order was passed on 03.01.2023 by NCLT, and the application for a certified copy was given on 14.02.2023, i.e., after 30 days from the date of the order.
Therefore, the bench said that there was a delay of more than 15 days after the expiry of the limitation, and the bench’s jurisdiction to condone the delay is limited to only 15 days.
“We, thus, are of the view that there is delay of more than 15 days after expiry of the limitation and our jurisdiction to condone the delay is limited to only 15 days as per Section 61(2), hence, we are unable to condone the delay which is beyond 15 days. IA No. 5204 of 2023 is dismissed. Consequently, the Appeal is dismissed,” the order reads.
Case title: Nipan Bansal, Resolution Professional of KSM vs Employee Provident fund
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