The IBC Route
Section 62 of the IBC permits an appeal to the Supreme Court against an NCLAT order within forty-five days. The appeal lies only on a question of law. The Supreme Court has held that it will not re-open findings of fact, and that the appeal is not a continuation of the original proceeding. The forty-five-day period is strict, and the Supreme Court has declined to condone delays beyond the statutory window.
The Companies Act Route
Section 423 of the Companies Act permits an appeal to the Supreme Court against an NCLAT order within sixty days, with a further extension of up to sixty days on sufficient cause. The appeal lies on a question of law or on a substantial question of law. The scope is wider than the IBC route, but the Supreme Court still does not sit as a court of appeal on facts.
The “Question of Law” Distinction
The IBC’s “question of law” is narrower than the Companies Act’s “substantial question of law.” A question of law involves the interpretation of a statute or a legal principle; a substantial question of law is one that is debatable, not settled, and has a material bearing on the outcome. The appellant should characterise the ground correctly, because a factual ground dressed as a legal question will be dismissed at the threshold.
The Interaction with Article 136
The Supreme Court’s special leave jurisdiction under Article 136 is discretionary and is not a substitute for the statutory appeal. The Court has repeatedly held that Article 136 will not be used to bypass the statutory route or its limitation. An appellant who has missed the statutory deadline cannot revive the appeal through Article 136.
The Practical Choice
The appellant should identify the statute under which the NCLAT order was passed, compute the limitation, and frame the grounds within the statutory scope. A “combined” appeal under both routes is not permissible; the appellant must elect the correct route.
Call to Action: For Supreme Court appeal strategy, question-of-law framing, or limitation assessment, contact office@anujdesaiassociates.com or 9619456656. Website: https://anujdesaiassociates.com. LinkedIn: linkedin.com/in/ca-anuj-desai-122547230.