NCLAT cannot condone Appeal Filing Delay beyond 45 Days: Supreme Court in Tata Steel Case

The Supreme Court reaffirmed that NCLAT cannot condone appeal filing delays beyond 45 days under IBC, dismissing Tata Steel's appeal in the Raj Kumar Banerjee case. The judgment strictly interprets Section 61's limitation period, emphasizing the IBC's time-bound resolution philosophy. No exceptions exist for even one-day delays, regardless of the appellant's size or case merits. This reinforces the absolute nature of IBC timelines and prevents litigation prolongation through discretionary condonation. The ruling impacts numerous pending applications seeking leniency on technical delays. While ensuring speedy resolution, some critics argue this rigid approach may cause injustice in genuine hardship cases. The decision underscores that corporate litigants must prioritize strict compliance with IBC timelines over case preparation perfection.