The National Company Law Appellate Tribunal (NCLAT) dismissed an appeal against the approval of a resolution plan as time-barred, citing a delay in filing the appeal beyond the condonable period.
The appellants sought condonation of a 16-day delay, arguing for an extension due to court vacations, but the tribunal ruled that the benefit of excluding vacation periods applies only to the prescribed limitation period, not the condonable period.
The appeal, filed on 11 May 2025, was deemed filed 46 days after the order, exceeding the 45-day maximum (30-day limitation plus 15-day condonable period) and was therefore dismissed as time-barred.