Limitation Act Can’t Extend 14-Day Appeal Period; NCLAT Dismisses 1616-Day Delayed Appeal

Sansar Investment & Finance Company Private Limited Vs Atlantic Spinning And Weaving Mills Limited (NCLAT Chennai) The appeal before the Appellate Tribunal arose from an order of the NCLT Hyderabad Bench dated 04.09.2024, which had dismissed an appeal filed under Section 42 of the Insolvency and Bankruptcy Code (IBC) on the ground of limitation. The core issue was whether the delay in filing the appeal could be condoned by invoking Section 5 of the Limitation Act read with Section 238A of the IBC. Section 42 of the IBC provides a statutory remedy for a creditor to appeal against the decisi...