Appeal Delayed Beyond 15 Days Not Condonable as Per Proviso of Section 61(2) of IBC: NCLAT refuses to Condone 19 Days Delay by Kotak Mahindra [Read Order]
The tribunal determined that it could only abide by the 15-day delay allowed by section 61(2) proviso; hence, the current 19-day delay could not be excused
![Appeal Delayed Beyond 15 Days Not Condonable as Per Proviso of Section 61(2) of IBC: NCLAT refuses to Condone 19 Days Delay by Kotak Mahindra [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Appeal-Delayed-Condonable-as-Per-Proviso-Per-Proviso-Section-612-of-IBC-IBC-NCLAT-NCLAT-refuses-NCLAT-refuses-to-Condone-Kotak-Mahindra-taxscan.jpg "Appeal Delayed Beyond 15 Days Not Condonable as Per Proviso of Section 61(2) of IBC: NCLAT refuses to Condone 19 Days Delay by Kotak Mahindra [Read Order]")
In a recent ruling , the New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) has held that delay in filing an appeal beyond 15 days as per section 61(2) proviso of the Insolvency and Bankruptcy Code cannot be condoned and refused to condone 19 days delay by Kotak Mahindra Bank Ltd. Kotak Mahindra Bank Ltd, the appellant file application seeking condonation of delay of...
In a recent ruling , the New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) has held that delay in filing an appeal beyond 15 days as per section 61(2) proviso of the Insolvency and Bankruptcy Code cannot be condoned and refused to condone 19 days delay by Kotak Mahindra Bank Ltd.
Kotak Mahindra Bank Ltd, the appellant file application seeking condonation of delay of 19 days in filing the appeal.
The appellant submitted that the appeal has been filed within a period of limitation that is within 45 days if all sundays and saturdays are excluded from the computation of the limitation period.
The tribunal observed that the law as provided in the Limitation Act as well as Rule 3 of the NCLAT Rules, 2016 is that when the last day of the limitation falls on a public holiday, the said period shall be excluded from the computation of the limitation period.
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It further added that as the limitation period of filing an appeal is 30 days, if the 30th day falls on a public holiday, such day shall not be counted for the purpose of the limitation period.
While applying the above law to the facts of the present case, the tribunal comprising of Justice Ashok Bhushan (Judicial Member), Mr. Barun Mita (Technical Member) and Mr. Arun Baroka (Technical Member) observed that the submission of the Appellant that all Saturdays and Sundays which are falling within 45 days should be excluded is clearly an absurd argument and not as per the benefit available in Limitation Act as well as Rule 3 of the NCLAT Rules, 2016.
When dismissing the appeal, the tribunal determined that it could only abide by the 15-day delay allowed by section 61(2) proviso; hence, the current 19-day delay could not be excused.
To Read the full text of the Order CLICK HERE
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