Section 433 of the Companies Act, 2013
Section 433 of the Companies Act, 2013
– Application of Limitation Act, 1963
⚖️ Bare Act Provision:
Section 433:
The provisions of the Limitation Act, 1963 shall, as far as may be, apply to proceedings or appeals before the Tribunal (NCLT) or the Appellate Tribunal (NCLAT) under this Act.
✅ Explanation:
This section ensures that time limits for filing applications, appeals, etc., before the NCLT and NCLAT are governed by the Limitation Act, 1963, just like in civil courts.
✦ Key Points:
Ensures uniformity in procedural law.
Prevents parties from filing delayed petitions without valid reason.
If a party misses a deadline, they must justify it under Section 5 of the Limitation Act (i.e., “sufficient cause”).
📌 Example:
If a person wants to file an appeal before NCLAT, they must do so within the time prescribed (usually 45 days from the NCLT order under Section 421). If delayed, Section 433, read with the Limitation Act, applies to decide whether the delay can be condoned.
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