A Rajendra vs Gonugunta Madhusudhan Rao 2025 INSC 447 - S. 61 IBC - Limitation
Insolvency and Bankruptcy Code 2016 - Section 61 -Litigant has to file its appeal under Section 61(2) within 30 days which can be extended up to a period of 15 days, and no more, upon showing sufficient cause. (Para 18).- The extension of period so provided for has to be strictly construed and has not to be exercised in a liberal manner which highlights the legislative intent which has to be given effect to. (Para 14) The incident which triggers limitation to commence is the date of pronouncement of the Order and in case of non-pronouncement of the Order when the hearing concludes, the date on which the Order is pronounced or uploaded on the website- where the judgment was pronounced in open Court, the period of limitation starts running from that very day. (Para 24-25)
Interpretation of Statutes - A slate of interpretation of procedural rules cannot be used to defeat the substantive objective of legislation which is prescribed in a time frame. (Para 18)
