Case Details

Case Name: Acrow Realcon Pvt. Ltd. & Ors. vs. Union Bank of India & Ors.

Court/Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi

Case Numbers: I.A. No. 2936, 2937, 2938, 2939 of 2026 IN Company Appeal (AT) (Insolvency) No.755-758 of 2026

Date of Order: 29th May, 2026

Date of Impugned Order: 13th February, 2026 (from NCLT Ahmedabad Bench)

Period of Delay: 15 days beyond 30-day limitation period

Parties Involved

Appellants: Acrow Realcon Pvt. Ltd. & Others

Respondents: Union Bank of India & Others

Legal Representatives:

  • For Appellants: Mr. K. Datta, Senior Advocate with Mr. Prateek Gupta, Advocate
  • For Respondents: Mr. Himanshu Satija, Advocate for R1 (Union Bank of India); Ms. Eshna Kumar, Advocate for SRA

Bench: Justice Ashok Bhushan (Chairperson) and Barun Mitra (Member Technical)

Issues / Allegations / Violations

The core issue was whether appeals e-filed on 30th March 2026 at 9:00 PM (after working hours) should be considered filed on that date or the next working day (31st March 2026) for limitation purposes under Section 61 of the Insolvency and Bankruptcy Code (IBC).

Respondent's Argument:

  • Appeals e-filed after 4:00 PM should be treated as filed on next working day per Rule 14.2 of Delhi High Court Electronic Filing Rules
  • Therefore, filing on 30th March at 9:00 PM constituted filing on 31st March 2026
  • This made the appeals 46 days late (beyond the 15-day condonable period under IBC Section 61(2) proviso)

Appellant's Position:

  • Appeals were filed within 45 days (30th March being the 45th day)
  • Delay of 15 days was within condonable period with sufficient cause shown

Findings & Observations

The Tribunal made several key legal determinations:

1. Applicable Rules: NCLAT Rules 2016 (framed under Companies Act 2013) govern filing, not Delhi High Court e-filing rules. No notification existed applying Delhi High Court rules to NCLAT.

2. NCLAT's E-filing Framework: Referenced Rule 103 (e-filing) and Rule 104 (removal of difficulties) of NCLAT Rules 2016. Noted the order dated 24th December 2022 issued by NCLAT Registrar which explicitly states: "Limitation shall be computed from the date of e-filing."

3. Definition of 'Day': Relied on Supreme Court precedent in Raj Kumar Yadav vs. Samir Kumar Mahaseth (2005) which held that a "day" means a period of 24 hours beginning at midnight. Therefore, filing until midnight of 30th March would constitute filing on that date.

4. Legal Precedent: Distinguished Delhi High Court's Ambrosia Corner House case as being specifically about interpretation of Delhi High Court's own rules. Cited Supreme Court's Sanket Kumar Agarwal case (2024) which approved NCLAT's 24th December 2022 order on computing limitation from e-filing date.

5. Sufficient Cause: Found appellant's explanation for 15-day delay reasonable due to:

  • Voluminous and complex nature of impugned order
  • Need for multiple stakeholder consultations
  • Requirement for board meetings and internal approvals
  • Coordination between multiple appellants
  • Preparation of comprehensive legal challenge

Penalties / Settlements / Directions

  • Delay Condonation: Allowed the applications for condonation of 15-day delay in filing appeals
  • Costs: No costs imposed
  • Next Hearing: Appeals listed for hearing on 10th July 2026

Corrective Actions & Future Obligations

The ruling establishes important procedural precedents:

1. E-filing Timing: E-filing in NCLAT can be done any time during the calendar day (until midnight) and will be considered filed on that date

2. Rule Application: Clarifies that Delhi High Court e-filing rules do not automatically apply to NCLAT proceedings unless specifically notified

3. Limitation Computation: Reaffirms that limitation period for NCLAT appeals is computed from date of e-filing as per NCLAT's 24th December 2022 order

Final Ruling & Enforcement

Final Decision: Allowed the delay condonation applications (I.A. No. 2936, 2937, 2938, 2939 of 2026)

Legal Effect: Appeals deemed filed within condonable period under Section 61(2) proviso of IBC

Operational Impact: The substantive appeals will now proceed to hearing on merits on 10th July 2026