Limitation period under Section 61 IBC to file appeal runs from day of pronouncement of order, not date of uploading order: Supreme Court

A party’s failure to file an application to obtain a certified copy of the order immediately after pronouncement denies him the right of extending limitation period on account of delay in upload, the Court said.
Supreme Court and IBC
Supreme Court and IBC
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The thirty-day limitation period prescribed by Section 61(2) of the Insolvency and Bankruptcy Code (IBC) to file an appeal against a decision of National Company Law Tribunal begins from the date of pronouncement of the order in the open court and not the date of the order being uploaded, the Supreme Court ruled on Friday (V Nagarajan v. SKS Ispat and Power Ltd.& Ors).

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