Within what period an appeal has to be filed with the National Company Law Appellate Tribunal and Supreme Court and state what orders are appealable?
CS Professional · Insolvency and Bankruptcy - Law and Practice · PYQS · December 2024
Within what period an appeal has to be filed with the National Company Law Appellate Tribunal and Supreme Court and state what orders are appealable?
Answer & Explanation:
Section 61(1) of the Insolvency and Bankruptcy Code, 2016 states that 'Notwithstanding anything to the contrary contained under the Companies Act 2013, any person aggrieved by the order of the Adjudicating Authority under this part may prefer an appeal to the National Company Law Appellate Tribunal. Section 61 (2) provides that very appeal under sub-section (1) shall be filed within thirty days before the National Company Law Appellate Tribunal. According to Section 62 of the Insolvency and Bankruptcy Code, 2016, any person aggrieved by an order of the National Company Law Appellate Tribunal may file an appeal to the Supreme Court on a question of law arising out of such order under this Code within forty-five days from the date of receipt of such order.
Topics: Appeals
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