[IBC] NCLAT cannot condone delay beyond 15 days in appeal against decision of NCLT: Supreme Court

Delay cannot be condoned even in exercise of powers under Article 142 of the Constitution, the Supreme Court held.
[IBC] NCLAT cannot condone delay beyond 15 days in appeal against decision of NCLT: Supreme Court
Supreme Court and IBC

The Supreme Court on Tuesday held that as per Section 61(2) of the Insolvency and Bankruptcy Code, the National Company Law Appellate Tribunal (NCLAT) cannot condone a delay beyond 15 days in an appeal filed against a decision of the National Company Law Tribunal (NCLT) [National Spot Exchange Limited v. Mr. Anil Kohli, Resolution Professional].

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