Limitation Period For Appeals Under IBC Starts From Date Of Order Pronouncement; Intervenors Can't Claim Ignorance To Justify Delay: NCLAT Principal Bench

The NCLAT clarified that the limitation period for filing appeals under the IBC begins from the date of order pronouncement. The case involved intervenors who claimed ignorance of the order to justify a delay in filing their appeal. The tribunal rejected this argument, emphasizing that the limitation period is strict and starts from the date the order is pronounced, regardless of whether the parties are aware of it. This ruling reinforces the importance of adhering to procedural deadlines and ensures that appeals are filed within the specified time frame.