New Delhi, June 10 -- The Supreme Court has ruled that the right to file an appeal under Section 62 of the Insolvency and Bankruptcy Code (IBC), 2016 stands extinguished once the statutory limitation period and the prescribed time for curing defects in the appeal have expired.

Supreme Court Clarifies Appeal Limitation Under IBC

A bench comprising Justice Dipankar Datta and Justice Satish Chandra Sharma held that litigants cannot seek condonation of delay in re-filing an appeal beyond the period allowed under the Supreme Court Rules.

The Court observed that an appeal under Section 62 of the IBC must be filed within 45 days from receipt of the order of the National Company Law Appellate Tribunal (NCLAT).

A further 15-day extension may b...