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

Vishwa Steels Ltd's resolution plan was approved by the NCLT on 1 March. A dissenting operational creditor, aggrieved by the order, wishes to appeal to the NCLAT. Under the Code, what is the basic period within which the appeal must be filed, before any condonation?

The appeal must be filed within thirty days. Section 61(2) fixes this basic period for every appeal to the NCLAT. A further period of up to fifteen days may be allowed only if the NCLAT is satisfied that there was sufficient cause for the delay.

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

Explanation

Section 61(2) requires every appeal to be filed within thirty days. The extra fifteen days is only a condonation window available on sufficient cause, so it is not the basic period.

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