National Spot Exchange Ltd. Vs. Anil Kohli, RP for Dunar Foods Ltd. & Anr. – NCLAT New Delhi
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The statutory provisions provide that delay beyond 15 days in preferring the appeal u/s 61 of IBC is uncondonable, the same cannot be condoned even in exercise of powers under Article 142 of the Constitution – National Spot Exchange Ltd. Vs. Mr. Anil Kohli, RP for Dunar Foods Ltd. – Supreme Court
In view of the afore-stated settled proposition of law and even considering the fact that even the certified copy of the order passed by the adjudicating authority was applied beyond the period of 30 days and as observed hereinabove there was a delay of 44 days in preferring the appeal which was beyond the period of 15 days which maximum could have been condoned and in view of specific statutory provision contained in Section 61(2) of the IB Code, it cannot be said that the NCLAT has committed any error in dismissing the appeal on the ground of limitation by observing that it has no jurisdiction and/or power to condone the delay exceeding 15 days. In view of the above and for the reasons stated above, no interference of this Court is called for. The present appeal fails and deserves to be dismissed and is accordingly dismissed. However, in the facts and circumstances of the case, there shall be no order as to costs.(p12-13)
Appellate Tribunal has no jurisdiction to condone the delay beyond 15 days u/s 61(2) – National Spot Exchange Ltd. Vs. Mr. Anil Kohli RP of Dunar Foods Ltd.-NCLAT
Sub-section 2 of Section 61 provides for powers to this Tribunal of only 15 days which it can condone over the period of appeal of 30 days, if there was sufficient cause. For the said reason, this Appellate Tribunal has no jurisdiction to condone the delay beyond 15 days and thereby the appeal is barred by limitation.
