The Supreme Court, in Tata Steel Ltd. v. Raj Kumar Banerjee, reinforced the rigid limitation regime under the IBC by holding that appeals to the NCLAT must be filed within the prescribed 30-day window, with only a 15-day grace period allowed. The judgment underscores that even non-parties are bound by the statutory timeline, and tribunals cannot condone delays beyond this 45-day limit, ensuring procedural certainty and speed in insolvency proceedings.
