The Supreme Court of India (Justice S.V.N. Bhatti and Justice N.V. Anjaria) held that the limitation period for filing an appeal before the Supreme Court under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) commences from the date of pronouncement of the NCLAT order, not from the date a litigant chooses to collect the certified copy. The Court affirmed that while Section 12(2) of the Limitation Act, 1963 excludes the actual time spent obtaining a certified copy, it does not excuse inaction prior to making the application, preserving the strict 60-day outer limit (45 days + 15 days condonable).
Court: Supreme Court of India
Bench: Justice S.V.N. Bhatti & Justice N.V. Anjaria (Opinion authored by Justice S.V.N. Bhatti)
Date of Decision: October 14, 2026
Subject Area: Insolvency and Bankruptcy Code, 2016 (Section 62) | Limitation Act, 1963 (Section 12(2)) | Computation of Limitation Period | Exclusion of Time for Certified Copy | Strict Timelines in Corporate Insolvency
Core Legal Principles Established by the Supreme Court
1. Pronouncement as the Trigger Point for Limitation
- The limitation period under Section 62(1) of the IBC begins on the date the NCLAT pronounces its judgment in open court, not on the date a party receives a physical or certified copy.
- The phrase “from the date of receipt of the order” cannot be interpreted to mean the date a party voluntarily chooses to apply for and collect a certified copy. Allowing such an interpretation would make the limitation clock fluctuating, indefinite, and dependent on litigant discretion.
2. Exclusion of Time Under Section 12(2) Limitation Act
- Under Section 12(2) of the Limitation Act, 1963, a litigant is entitled to exclude only the time actually taken by the Registry to process and issue the certified copy (from the date of application to the date of receipt).
- Any period of inaction or delay prior to filing the application for a certified copy counts directly against the statutory 45-day limitation period.
3. Strict 60-Day Outer Limit Under Section 62 IBC
- Section 62 provides a primary limitation period of 45 days, with a discretionary condonable extension of up to 15 additional days upon showing sufficient cause.
- The 60-day outer ceiling (45 + 15 days) is absolute and mandatory. The Supreme Court lacks jurisdiction under Article 142 or Section 5 of the Limitation Act to condone a delay that exceeds 60 actionable days.
Mathematical Application in the Instant Case
| Computation Component | Period / Timeline | Legal Status & Impact |
| Delay Before Application | 35 Days (Order Pronouncement to Copy Application) | Included: Deducted directly from the 45-day statutory limit. |
| Processing Time by Registry | 35 Days (Application Date to Copy Receipt) | Excluded: Excluded under Section 12(2) of the Limitation Act. |
| Delay After Receiving Copy | 41 Days (Receipt of Copy to Appeal Filing) | Included: Actionable period post-receipt. |
| Total Actionable Period | 76 Days (35 days before + 41 days after) | Exceeds the 60-day absolute ceiling by 16 days. |
| Supreme Court Disposition | Appeal Dismissed as Barred by Limitation. | Supreme Court has no jurisdiction to condone delay beyond 60 days. |
Key Quotes from the Judgment
“The phrase ‘from the date of receipt of the order’ in Section 62(1) cannot be read as the date on which a party chooses to apply for and collect a certified copy. If the limitation clock remained suspended until physical collection at the litigant’s leisure, the limitation period would then become fluctuating and indefinite.”
“If the Appellant’s argument that the limitation period begins on the day the copy of the Order is received is accepted, it would nullify both the limitation period and the condonable period, and make the right of Appeal subject to an indefinite and fluctuating period of limitation.”
— Justice S.V.N. Bhatti