In Brief
National Spot Exchange Limited appealed against rejection of its claim in the corporate insolvency process of Dunar Foods Limited. The NCLAT dismissed the appeal as barred by limitation, refusing to condone a 44-day delay beyond the 30-day statutory period (which allowed condonation of only 15 additional days). The Supreme Court upheld the dismissal, holding that when a statute prescribes a maximum period for condonation, courts cannot exceed it even under Article 142 of the Constitution. Hardship and equitable considerations cannot override statutory limits on condonation. Special statutes like the IBC take precedence over general limitation provisions.
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