Whether in appeal to Supreme Court (against NCLAT Order) the delay in refiling the can be condoned beyond 28 days?
Whether in appeal to Supreme Court (against NCLAT Order) the delay in refiling the can be condoned beyond 28 days? [1] Shubham Budhiraja [2] 1. The scheme of limitation under the IBC is a strict and time-bound one. The concept of condonation of delay itself is alien to the statutory framework beyond the period expressly contemplated under the statute. Section 62 of the IBC permits an appeal to be filed before this Court within 45 (forty-five) days, with a further grace period of only 15 (fifteen) days, and that too, only upon sufficient cause being shown. Thus, the outer limit statutorily permissible is 60 (sixty) days, beyond which the appeal itself becomes barred and the Court’s jurisdiction to condone the delay ceases . 2. Any appeal which is not filed within the stipulated period in a form shorn of defects, for all practical and legal purposes, remains a defective appeal. 3. Any practi...