VidhiSangh

Supreme Court of India · 24/10/2017

INTERNATIONAL ASSET RECONSTRUCTION COMPANY OF A INDIA LTD versus THE OFFICIAL LIQUIDATOR OF ALDRICH PHARMACEUTICALS LTD. AND OTHERS

[2017] 10 S.C.R. 199 · 2017 INSC 1046

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Summary

The Court held that the Debt Recovery Tribunal could not invoke Section5 of the Limitation Act to condone delay beyond30days in a Section30(1) appeal against a Recovery Officer’s order. The statutory scheme applied limitation provisions to original recovery applications and separately authorised condonation in appellate-tribunal appeals, but supplied no corresponding power here.

Issues

  1. Whether Section5 of the Limitation Act could extend the30day period for an appeal to the Tribunal against a Recovery Officer’s order.

Provisions considered

Held

Result

Appeals dismissed; delay beyond30days in the Section30(1) appeals could not be condoned by applying Section5 of the Limitation Act.

Judgment PDF: Supreme Court of India, [2017] 10 S.C.R. 199.