In a recent ruling, the National Company Law Appellate Tribunal (NCLAT), Chennai Bench, dismissed appeals under the Corporate Insolvency Resolution Process (CIRP) and held that the petitions were barred by limitation under Section 61 of the Insolvency and Bankruptcy Code (IBC), observing that the appeals were filed beyond the permissible 45‑day period and that reliance on the e‑portal upload date could not substitute the statutory requirement of filing within the prescribed timeframe.
The appellants, including Harish Shah and others, had contested the resolution plan approved by the Adjudicating Authority, arguing that they were treated unfairly compared to other homebuyers. The tribunal found that the appeals…