Limitation Period for Appeal under Section 61 of IBC Starts Running from Date of Pronouncement

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Dec 31, 2021

Limitation Period for Appeal under Section 61 of IBC Starts Running from Date of Pronouncement

The SC, in the matter of V. Nagarajan v. SKS Ispat and Power Limited and Others^[1]held that the Insolvency and Bankruptcy Code, 2016 (‘IBC’) consciously omits the requirement of limitation for appeals to be computed from the date when the order is made available to the aggrieved party. Therefore, limitation for filing an appeal under the IBC, commences from the date of pronouncement of the order and not when the certified copy of the order is made available to parties. However, the SC clarified that the time taken by the Court to provide the party with the certified copy would have been excluded as per Section 12(2) of the Limitation Act, 1963, if the party would have applied for a certified copy within the prescribed period of limitation under Section 61(2) of the IBC.

[1] 2021 SCC Online SC 959.

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