IBC: Appeal Delay Beyond 15 Days Not Condonable – NCLAT Delhi

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 ca...