103-Day Delay in IBBI Appeal Dismissed Under IBC Section 61 | NCLAT

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IBBI appeal delay condonation

Case Details: Insolvency and Bankruptcy Board of India vs. Truvisory Insolvency Professionals (P.) Ltd. [2026] 184 taxmann.com 11 (NCLAT- New Delhi)

Judiciary and Counsel Details

  • Justice Ashok Bhushan, Chairperson & Indevar Pandey, Technical Member
  • N. Venkatraman, Sr. Adv., Ms Amrita Singh & Prasang Sharma, Advs. for the Appellant.
  • Arun Kathpalia, Milan Singh Negi, Nikhil Kumar Jha, Treenok Guha, Utkarsh Mishra, Pranaya Goyal, Chiranjivi Sharma, Ms Nehal Gupta, Ms Katyayani, Ms Chitra, Ms Neharika Sharma, Ms Khyati Mehrotra, D. Arambhan, Ms Nanki Grewal, Advs., Krishnendu Dutta & Abhijeet Sinha, Sr. Advs. for the Respondent.

Facts of the Case

In the instant case, the appellant-IBBI filed an appeal challenging the NCLT’s order approving a resolution plan. The filing entailed a delay of 103 days. The IBBI filed an application seeking condonation of delay, which the Respondent No. 2 opposed on the ground that the delay exceeded the statutory outer limit of 45 days under Section 61(2) of the IBC.

The appellant contended that, by virtue of section 198’s non obstante clause, delay in filing an appeal could be condoned and that the Appellate Tribunal could exercise the Adjudicating Authority’s power; reliance was placed on section 16(4) of the IBC.

It was noted that Section 198 of the IBC can have no relevance with regard to Section 61 of the IBC, which provides for a limitation for filing an appeal. Further, it was noted that the power of condonation by the Adjudicating Authority is a clear indicator that when a function is entrusted to the Board and the same is not performed within time, it can be condoned. The purpose is that such a delay can have no fatal effect on proceedings.

NCLAT Held

The NCLAT held that the Appellate Tribunal can also exercise the jurisdiction that is vested in the Adjudicating Authority. Still, power has been given for a specific purpose and object to the relevant Adjudicating Authority, which can never be intended to contemplate condonation of delay under Section 61 of the IBC by the Appellate Tribunal.

Thus, a delay in filing an appeal beyond the condonable period could not be condoned; the 103-day delay could not be condoned.

List of Cases Reviewed

  • Order of National Company Law Tribunal, Mumbai in IA No.53 of 2025 in C.P. (IB) No.77/MB/2024, Dated 13.08.2025 (para 26) affirmed

List of Cases Referred to

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied