Supreme Court Enforces Strict Limitation for IBC Appeals

The Court clarified that limitation for an appeal under Section 62 of the Insolvency and Bankruptcy Code begins on the date the NCLAT pronounces its order. Only the time actually required to obtain a certified copy, after applying for it, can be excluded under Section 12(2) of the Limitation Act. Since the Revenue’s appeal exceeded the 45-day limitation period plus the maximum 15-day condonable period, it was dismissed as barred by limitation.