SC held that Respondent No. 1's appeal was time-barred under ...

Insolvency Appeal Dismissed: Strict 45-Day Limitation Period Under IBC Section 61(2) Bars Time-Barred Petition

May 10, 2025

Case Laws IBC SC

SC held that Respondent No. 1's appeal was time-barred under Section 61(2) of the IBC. The limitation period commenced on 07.04.2022 and expired on 07.05.2022, with a maximum statutory period of 45 days. The appeal was filed on 24.05.2022, beyond the prescribed and condonable periods. The NCLAT lacks jurisdiction to condone delays beyond the statutorily defined 30+15 days period. The court emphasized the IBC's strict procedural discipline, which mandates adherence to prescribed timelines to ensure efficient resolution of insolvency proceedings. Consequently, the appeal was dismissed, reinforcing the tribunal's limited power to extend limitation periods.

View Source

← Previous Next →

SC held that Respondent No. 1's appeal was time-barred under ...

Insolvency Appeal Dismissed: Strict 45-Day Limitation Period Under IBC Section 61(2) Bars Time-Barred Petition

May 10, 2025

Case Laws IBC SC

You may also like:

Winding up petition - debt recovery which is barred under the law of limitation - even if this period of 21 days excluded under Section 15(2) of the Limitation Act, the...

The case involves a Section 9 application to determine if payment for ten invoices by the Operational Creditor was time-barred and if a preexisting dispute existed. The...

Initiation of CIRP - Period of limitation - It is clear that on the day of filing the petition U/S 7 of the Code, there was a subsisting liability on the corporate...

Extended period of limitation - Merely that assessee is PSU is not sufficient to set aside the SCN as being barred by time - SCN not barred by time.

Validity of Notice issued u/s 143(2) - Defective return - Removal of defect beyond 15 days u/s 139(9) - AO should have treated the return as non-est when the assessee...

Initiation of CIRP - Application barred by time limitation or not - The acknowledgement made by the Principal Borrower within three years’ period from the date of...

Refund claim was rejected as time-barred, having been filed beyond the one-year limitation period stipulated u/s 27 of the Customs Act, 1962. The appellant had...

Rectification u/s 154 application rejected as being time barred - The Appellate Tribunal agreed with the assessee's contention that the rectification application was not...

Reopening of assessment - notice u/s 148 barred by limitation - Though the notice u/s 148(2) was first published in the newspaper on 09.12.2017 which was beyond the...

Assessee company failed to deduct tax at source as reflected in Tax Auditor's report. Demand u/s 201(1)/201(14) was barred by limitation. Assessee submitted that...

NCLAT addressed the computation of limitation periods for filing appeals under IBC. The tribunal held that while the 30-day limitation period under Section 61 can be...

HC determined the reassessment notice issued on 30.07.2022 was time-barred under Section 149(1). While TOLA provided AO twenty-nine days limitation period from...

Refund claim - time limitation - excess payment of service tax - rejection of refund claim as barred by limitation of time on the ground of delay in filing such...

HC held reassessment proceedings initiated u/s 148 were invalid due to statutory limitation u/s 149. The original notice was set aside for lacking mandatory approvals...

Initiation of CIRP u/s 9 - time limitation - threshold limit of amount claimed - With respect to 234 invoices, which are payable within 30 days of the invoices, 224...

Quick Updates: