2025 (7) TMI 713 - SCH - IBC

Declination to entertain the appeal on the ground that the same is time barred - HELD THAT - The position of law is clear in so far as the powers of the NCLAT to condone delay so far as the provisions of Insolvency and Bankruptcy Code 2016 are concerned. It cannot be said that the NCLAT committed any error much less any error of law in declining to condone the delay of 283 days in preferring appeal against the order passed by the Adjudicating Authority. The appellant being a Statutory Authority has no idea as to within what period of time the appeal can be filed before the NCLAT and what is the period of limitation. Unfortunately even in coming to this Court there is a delay of 147 days - Appeal dismissed on the ground of delay as well as merits.

Summary

The Supreme Court, through Justices J. B. Pardiwala and R. Mahadevan, dismissed the appeal filed by the Central Board of Trustees Employees Provident Fund against the National Company Law Appellate Tribunal's (NCLAT) order refusing to entertain the appeal on the ground of being time barred. The Court emphasized the statutory limitation under Section 61(2) of the Insolvency and Bankruptcy Code, 2016, which mandates that an appeal must be filed within 30 days before the NCLAT, with a further discretionary extension of up to 15 days for condonation of delay upon showing "sufficient cause." The Court held that beyond this 45-day outer limit, the NCLAT has "no power to condone the delay," and thus the 283-day delay in filing the appeal was not permissible. The Court stated the impugned order was "devoid of any merits" and upheld the NCLAT's refusal to condone the delay.Further, the Court noted the appellant, a statutory authority, demonstrated ignorance of the limitation period and also delayed 147 days in approaching the Supreme Court. Consequently, the Civil Appeal was dismissed both on grounds of delay and merits, with all pending applications disposed of.