IBC Section 62: Appeal to Supreme Court

Section 62 of Insolvency and Bankruptcy Code, 2016: Appeal to Supreme Court

Official Bare Act Text

Override / Mandate Mens Rea (Intent) Actus Reus (Conduct) Punishment Limitation Monetary

(1) 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.

(2) The Supreme Court may, if it is satisfied that a person was prevented by sufficient cause from filing an appeal within forty-five days, allow the appeal to be filed within a further period not exceeding fifteen days.

Legal Commentary & Landmark Judgments: Section 62

Section 62 provides the statutory right of appeal to the Supreme Court of India against any order of the National Company Law Appellate Tribunal (NCLAT) exclusively on a question of law within a 45-day limitation period.

Exclusive Appellate Forum - Supreme Court: Any person aggrieved by an order of the National Company Law Appellate Tribunal may file an appeal to the Supreme Court.
Ground Restricted to Question of Law: Appeal lies exclusively on a question of law arising out of such order under the Code; pure findings of fact or commercial valuation cannot be re-agitated.
45-Day Limitation Standard: Every appeal must be filed within forty-five days from the date of receipt of the order of the NCLAT.
15-Day Maximum Condonation (Section 62(2)): The Supreme Court may, if satisfied of sufficient cause, extend the period by not exceeding fifteen days; delay beyond 60 days cannot be condoned under any circumstances.

Key Landmark Precedents:

V. Nagarajan v. SKS Ispat and Power Ltd. (2022) 2 SCC 244: The Supreme Court held that the limitation period under Section 62 begins on the date the order is pronounced; a party cannot wait indefinitely for a certified copy without applying for it. Limitation cannot be extended beyond the statutory 45+15 day outer limit.
Kalpraj Dharamshi v. Kotak Investment Advisors Ltd. (2021) 10 SCC 401: The Supreme Court held that in an appeal under Section 62, the court will not sit in appeal over the commercial wisdom of the Committee of Creditors; review is strictly limited to violations of law under Section 30(2).

Courtroom Practice & Strategic Litigation Guidance:

File an appeal under Section 62 within 45 days of the NCLAT judgment. Frame precise substantial questions of law (e.g., violation of Section 30(2) or Section 53 waterfall priorities). Do not challenge commercial haircuts or valuation disputes before the Supreme Court.