NCLAT Dismisses Delay Condonation in Company Appeal Due to Non-Compliance With Limitation Period

The National Company Law Appellate Tribunal (NCLAT), dismissed a 166-day delay condonation application in a Company Appeal due to non-compliance with the Limitation Period under Section 61 of the IBC. 

The applicant cited two reasons for the delay: family bereavement and the court's summer vacation. While the bench accepted the first explanation, it rejected the second, terming it an "excuse" for the applicant's inaction. 

The NCLAT emphasized that while delay condonation requires a liberal approach, the reasons must be genuine and beyond the applicant's control. The court noted that the registry remains functional during vacation periods.