Section 64: Expeditious Disposal of Applications under the Insolvency and Bankruptcy Code, 2016
Section 64 of the Insolvency and Bankruptcy Code, 2016 deals with timely disposal of applications and passing of orders by the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT). It also restricts courts, tribunals and authorities from granting injunctions against action taken, or proposed to be taken, in exercise of powers conferred on the NCLT or NCLAT under the Code.
Text and meaning of Section 64
Section 64(1): Where an application is not disposed of or an order is not passed within the period specified in the Code, the NCLT or NCLAT, as the case may be, must record the reasons for the delay. After considering those recorded reasons, the President of the NCLT or the Chairperson of the NCLAT, as applicable, may extend the specified period, but the extension cannot exceed ten days.
Section 64(2): No court, tribunal or authority may grant an injunction in respect of an action taken, or proposed to be taken, in pursuance of a power conferred on the NCLT or NCLAT under the Code.
Purpose of Section 64
The IBC is designed around time-bound insolvency resolution. Section 64 reinforces that objective at the adjudicatory and appellate stages. When the Code fixes a period for disposal of an application or passing of an order, a delay beyond that period requires reasons to be formally recorded.
The Supreme Court has also emphasized the importance of IBC timelines. IBBI's section-wise jurisprudence records, in relation to Section 64, the Supreme Court's observation in ArcelorMittal India Private Limited v. Satish Kumar Gupta that the timelines are important and that reasons must be recorded when the NCLT or NCLAT does not dispose of a matter within the specified time.
Extension of time: maximum ten days
Section 64(1) does not create an unrestricted power to extend statutory periods. The relevant President or Chairperson may consider the reasons recorded for delay and extend the period specified in the Code, but the extension under this provision cannot exceed ten days.
Bar on injunction under Section 64(2)
Sub-section (2) protects the exercise of statutory powers conferred on the NCLT and NCLAT by providing that no court, tribunal or authority shall grant an injunction in respect of action taken or to be taken pursuant to such powers. This provision should be read in the context of the jurisdiction and appellate framework created by the IBC.
NCLT and NCLAT under the IBC
For corporate persons, the NCLT functions as the Adjudicating Authority under the relevant provisions of the Code, while appeals from specified NCLT orders lie to the NCLAT under Section 61. A further appeal on a question of law may lie to the Supreme Court under Section 62. Section 63 separately bars civil courts or authorities from entertaining suits or proceedings concerning matters over which the NCLT or NCLAT has jurisdiction under the Code.
Current legal framework
The Insolvency and Bankruptcy Code, 2016 is Act No. 31 of 2016. Section 64 forms part of the statutory framework governing corporate insolvency adjudication. For the latest Act, amendments, regulations and circulars, readers should verify the official legal framework maintained by the Insolvency and Bankruptcy Board of India and the text available through India Code.
Page reviewed: 30 September 2026. Statutory text and legal developments should always be checked against the latest official notifications and amendments before reliance in a proceeding.