NCLAT cannot condone delay beyond prescribed period of 45 days: SC

Tata Steel Ltd Vs Raj Kumar Banerjee & Ors. (Supreme Court of India) Supreme Court held that NCLAT has no power to condone delay beyond prescribed period of 45 days to entertain appeal regardless of the reason for delay. Accordingly, order passed by NCLAT condoning delay is ultra vires and liable to be quashed. Facts- The appellant is the successful resolution applicant for Rohit Ferro-Tech Limited (Corporate Debtor) having its resolution plan approved by the Committee of Creditors and subsequently by the National Company Law Tribunal, Kolkata, by order dated 07.04.2022. Respondent No.1 is...