Limitation for IBC appeals runs from pronouncement; delay beyond the fifteen-day statutory limit is not condonable.

The Appellants, acting as unsecured financial creditors and homebuyers of the Corporate Debtor (M/s. Lokaa Developer Pvt. Ltd.), challenged an order dated 28.10.2025 passed by the Adjudicating Authority (NCLT).

The impugned order approved a Resolution Plan submitted by the "Mone Flat Owners Association" under Section 30(6) of the Insolvency and Bankruptcy Code (IBC).

The Appellants filed their appeals electronically on 13.12.2025.

They contended that the limitation period should be calculated from 30.10.2025, the date the order was uploaded on the NCLT e-portal, rather than the date of pronouncement.

The Registry reported a delay of 16 days, while the Appellants sought condonation for 14 days, asserting the delay was due to time taken to obtain the order and seek legal advice.

Notably, the Appellants did not apply for a certified copy of the order and instead sought an exemption from filing it.

The court primarily applied Section 61(2) of the IBC, which mandates that appeals must be filed within 30 days, with a proviso allowing a maximum extension of only 15 days upon showing sufficient cause.

It relied on the Supreme Court precedent in V. Nagarajan v. SKS Ispat and Power Limited, which clarifies that the IBC framework does not link limitation to the receipt of a certified copy, but rather to the date of pronouncement.

The court further cited A. Rajendra v. Gonugunta Madhusudhan Rao and Ashdan Properties Pvt. Ltd. v. DSK Global Education and Research Pvt. Ltd., affirming that limitation starts from the date of pronouncement in open court, and relief under Section 12(2) of the Limitation Act (excluding time for preparing a certified copy) is only available if an application for a certified copy was made within the initial limitation period.

The Tribunal determined that since the order was pronounced on 28.10.2025, the 30-day limitation period ended on 27.11.2025.

Including the maximum condonable period of 15 days, the absolute deadline to file the appeal was 12.12.2025.

The Appellants filed the appeal on 13.12.2025, which was the 46th day.

The Tribunal rejected the plea to calculate limitation from the date of uploading (30.10.2025), noting that as members of the Committee of Creditors (CoC), the Appellants were deemed to have knowledge of the proceedings and the pronouncement.

Furthermore, because the Appellants failed to even apply for a certified copy, they were ineligible for any time exclusion under the Limitation Act.

The Tribunal emphasized that Section 61(2) is a self-contained provision with a strict "upper limit" of 45 days, leaving the court with no jurisdiction to condone a delay of even a single day beyond that threshold.

The court answered that limitation under Section 61(2) of the IBC commences from the date of pronouncement in open court and not from the date of uploading.

Consequently, IA Nos. 135 & 142/2026 (for condonation of delay) were rejected, and Company Appeals (AT) (CH) (INS) Nos. 54 & 56 / 2026 were dismissed as barred by limitation.