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

Gulmohar Textiles Ltd's CIRP admission was challenged. The NCLT passed an order against Gulmohar's operational creditor on 1 March. The creditor wishes to appeal to the NCLAT under Section 61 of the IBC. Within what basic period must the appeal be filed, before any extension for sufficient cause?

The appeal must be filed within thirty days under Section 61(2) of the IBC. Fifteen days is only the maximum further period the NCLAT may allow if it is satisfied there was sufficient cause for the delay, not the basic filing period.

  1. AFifteen days from the order
  2. BThirty days from the orderCorrect
  3. CForty-five days from the order
  4. DSixty days from the order

Explanation

Section 61(2) requires every appeal to the NCLAT to be filed within thirty days. The fifteen-day figure is only the maximum extra period the NCLAT can allow after the thirty days expire, so it is not the basic period.

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