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CS Professional · Insolvency and Bankruptcy - Law and Practice · Adjudication and Appeals for Corporate Persons

A financial creditor, Bharat Finserve Ltd, is aggrieved by an order of the Debt Recovery Appellate Tribunal passed under the Code. It files an appeal before the Supreme Court on day 58 from the date of the order, claiming sufficient cause for the delay. Which statement is correct?

An appeal lies from the DRAT to the Supreme Court on a question of law within 45 days. The Supreme Court may permit filing within a further 15 days if sufficient cause is shown, so an appeal on day 58 can be entertained under section 182.

  1. ANo appeal lies to the Supreme Court from a DRAT order; only the High Court can hear it
  2. BThe appeal lies on a question of law within 45 days, and the Supreme Court may allow filing up to a further 15 days if satisfied of sufficient causeCorrect
  3. CThe appeal lies within 30 days, extendable by 15 days by the DRAT
  4. DThe appeal lies on facts and law within 45 days with no extension possible

Explanation

Section 182 provides an appeal from a DRAT order on a question of law to the Supreme Court within 45 days, and the Supreme Court may allow a further period not exceeding 15 days on sufficient cause. Day 58 falls within 60 days, so it can be considered. The 30-day option confuses this with section 61.

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