Kotak Mahindra Bank Ltd. Vs Mohit Kumar (NCLAT Delhi)
In Kotak Mahindra Bank Ltd. Vs Mohit Kumar, NCLAT Delhi dismissed an appeal due to a delay of 19 days beyond the prescribed period, ruling that delays exceeding 15 days cannot be condoned under Section 61(2) of the Insolvency and Bankruptcy Code (IBC). The appellant sought exclusion of all Saturdays and Sundays within the 45-day appeal period, arguing that this should bring the delay within the limitation period. The tribunal, however, found this argument unfounded, stating that only the last day of limitation falling on a public holiday can be excluded as per the Limitation Act and Rule 3 of NCLAT Rules, 2016. The court also noted that the appellant’s reliance on Sandeep Anand Vs. Gopal Lal Baser was misplaced since that case similarly denied condonation for delays beyond 15 days.
The NCLAT emphasized that under the IBC, strict adherence to the appeal timeline is necessary, and the tribunal has no discretion to extend the condonable period beyond 15 days. As a result, the application for condonation of delay was rejected, leading to the dismissal of the appeal. This decision reinforces the importance of timely filing under IBC and clarifies that statutory timelines must be strictly followed without exceptions beyond the prescribed limits.
