Certified Copy Preparation Period Can Be Excluded For Limitation Under Section 61 Of The Insolvency & Bankruptcy Code, 2016.
The National Company Law Appellate Tribunal, Principal Bench comprising of Justice Ashok Bhushan and Mr. Barun Mitra recently held that the time taken for preparation of the certified copy of the order/judgment will be excluded for computation of limitation under Section 61 of the Insolvency and Bankruptcy Code, 2016. The Bench was hearing an appeal filed by the Appellant against...
The National Company Law Appellate Tribunal, Principal Bench comprising of Justice Ashok Bhushan and Mr. Barun Mitra recently held that the time taken for preparation of the certified copy of the order/judgment will be excluded for computation of limitation under Section 61 of the Insolvency and Bankruptcy Code, 2016.
The Bench was hearing an appeal filed by the Appellant against the order dated 13.05.2022 passed by NCLT, Cuttack dismissing the application filed by the Appellant.
The Appellant filed the appeal before the NCLAT on 08.07.2022 and it was contended on behalf of the Appellant that the certified copy of the order was applied on 08.06.2022 which is within the period of 30 days from the impugned order and the certified copy was only supplied to Appellant on 09.05.2022 and thus the period of limitation under Section 61 of the Code will only starts from 09.06.2022.
The NCLAT rejected the contention of the Appellant on the ground that the Appeal under Section 61 of the Code shall be filed within a period of 30 days from the date of order and only a delay of 15 days can be condoned by the Appellate Tribunal.
However, the Bench observed that the time period during which the certified copy was under preparation can be excluded for computing period of 30 days from the date of order.
"The Appellant is entitled to exclude the period for which certified copy was under preparation. Certified Copy was applied on 08th June, 2022 and delivered on 09th June, 2022 hence two days period is entitled to be excluded in computing the limitation"
Accordingly, NCLAT held that the delay in filling the present appeal is beyond period of 15 days which cannot be condoned and thus dismissed the appeal field by the Appellant.
Case Title: Chhote Lal Gupta v Jai Balaji Jyoti Steels Ltd.
Counsel for Appellant: Mr. AK Shrivastava, Akash Sharma and SP Singh Chawla.