In Brief
V Nagarajan, appointed liquidator of Cather Ltd, challenged an NCLT order denying interim relief against invocation of bank guarantees. The NCLAT dismissed his appeal as time-barred under Section 61(2) of the Insolvency and Bankruptcy Code 2016. The Supreme Court upheld this dismissal. It held that the limitation period for appeals against NCLT orders commences when the order is pronounced, not when a copy is made available. An aggrieved party must promptly apply for a certified copy to avail the Limitation Act exclusion. The statutory right to a free copy does not permit parties to await its receipt without filing an application or to extend the limitation period. The IBC's 30-day appeal deadline (extendable by 15 days) must be strictly observed to maintain the Code's time-bound framework for efficient insolvency resolution. COVID-19 extensions did not apply to appeals already time-barred before March 15, 2020.
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