[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.

Supreme Court and IBC

Bar & Bench

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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].

Supreme Court of India