Section 62 IBC: Appeal to Supreme Court

Section 62 of the Insolvency and Bankruptcy Code, 2016 provides a statutory appeal to the Supreme Court from an order of the National Company Law Appellate Tribunal. The appeal must involve a question of law arising out of the NCLAT order and must ordinarily be filed within 45 days from receipt of that order.

Limitation: The ordinary appeal period is 45 days from the date of receipt of the NCLAT order. If sufficient cause prevented filing within that period, the Supreme Court may permit filing within a further period not exceeding 15 days.

Section 62 - Appeal to Supreme Court

(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.

Who May File an Appeal?

Section 62 permits any person aggrieved by an order of the National Company Law Appellate Tribunal to invoke the statutory appellate jurisdiction of the Supreme Court, provided the appeal satisfies the requirements of the section.

Appeal Must Involve a Question of Law

The right of appeal under Section 62 is expressly confined to a question of law arising out of the NCLAT order under the IBC. The statutory appeal is therefore not framed as an unrestricted rehearing of every factual issue decided by the appellate tribunal.

45-Day Filing Period

The appeal must ordinarily be filed within 45 days from the date of receipt of the NCLAT order. The date of receipt is therefore material for computing the statutory limitation period under Section 62(1).

Maximum Further Period of 15 Days

Under Section 62(2), the Supreme Court may allow an appeal to be filed after the initial 45-day period where it is satisfied that sufficient cause prevented timely filing. The further period permitted by the section cannot exceed 15 days.

Relationship with Section 61

Section 61 governs appeals from the Adjudicating Authority to NCLAT. Section 62 provides the next statutory appellate stage from NCLAT to the Supreme Court, but only on a question of law arising out of the NCLAT order.

Meaning of NCLAT

The National Company Law Appellate Tribunal is the appellate tribunal constituted under the Companies Act, 2013. Under the IBC, it hears appeals from orders of the National Company Law Tribunal in matters for which the Code provides an appeal to NCLAT.

Meaning of Adjudicating Authority

For insolvency resolution and liquidation of corporate persons under Part II of the IBC, Section 60 identifies the National Company Law Tribunal as the Adjudicating Authority, subject to the territorial and connected-proceeding rules contained in that provision.

Official Legal Resources

For the current IBC, amendments, commencement notifications, appellate rules and court information, refer to the official Insolvency and Bankruptcy Board of India Legal Framework, the National Company Law Appellate Tribunal, the Supreme Court of India and the Government of India's India Code.

This article is a general legal reference. The latest statutory text, commencement notifications, procedural rules and binding judicial decisions should be checked for the facts and date relevant to a particular appeal.