Limitation Period U/S 61 Commences From Pronouncement Of Order And Not On Uploading Date Of Order: NCLAT New Delhi

The National Company Law Appellate Tribunal (NCLAT) has ruled on the condonation of delay in filing an appeal against an order of the National Company Law Tribunal (NCLT). The decision emphasizes the strict adherence to the limitation period prescribed under the Insolvency and Bankruptcy Code (IBC). The article discusses the circumstances under which the delay was sought to be condoned and the legal principles applied by the NCLAT in reaching its decision. It highlights the importance of timely action in legal proceedings and the limited scope for extending deadlines under the IBC framework.