NCLAT: Insolvency appeals must be filed within 45 days, no extensions beyond 15 days

The National Company Law Appellate Tribunal (NCLAT) has underscored that insolvency proceedings operate under strict time constraints, with no flexibility beyond prescribed deadlines. The tribunal rejected an appeal against a revival order after finding it exceeded the permissible filing period.

NCALT noted that while a maximum 15-day condonable period exists for delayed filings, this remains the outer limit. A suspended director's explanation for the delay was found insufficient to justify the extension. The bench consequently declared the appeal not maintainable and dismissed it.

The ruling reinforces that appellants in insolvency cases must comply rigorously with time-bound procedures to ensure their petitions are considered.