Sections 32 explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Section 32 sends an appeal from an order approving a resolution plan to the grounds in section 61(3). Section 61 provides the appeal to the National Company Law Appellate Tribunal within thirty days, the grounds of appeal for plans, liquidation orders and conversion orders, and, as the Insolvency and Bankruptcy Code (Amendment) Act, 2026 adds, a period of three months for the Appellate Tribunal to dispose of an appeal. Section 62 provides the appeal to the Supreme Court on a question of law within forty-five days. This article reads the three sections as per the IBBI consolidated text of the Code amended up to 12 August 2021, and then the 2026 change to section 61.
An appeal against an order of the Adjudicating Authority under Part II lies to the National Company Law Appellate Tribunal within thirty days, with up to fifteen more days for sufficient cause. An appeal against an order approving a plan is on the five grounds in section 61(3). A further appeal lies to the Supreme Court on a question of law within forty-five days, with up to fifteen more. The 2026 Act adds that the Appellate Tribunal shall dispose of the appeal within three months of its receipt.
Section 32: appeal against an approval order
"Any appeal from an order approving the resolution plan shall be in the manner and on the grounds laid down in sub-section (3) of section 61." Section 32 sits in Chapter II, next to section 31, which is explained in our post on section 31. It is the pointer; the substance is in section 61.
Section 61(1) and (2): who appeals, where and when
Section 61(1): "Notwithstanding anything to the contrary contained under the Companies Act 2013 (18 of 2013), any person aggrieved by the order of the Adjudicating Authority under this part may prefer an appeal to the National Company Law Appellate Tribunal." The Companies Act, 2013 is named as printed; the reader should check the current law for the corresponding provision. Section 61(2): "Every appeal under sub-section (1) shall be filed within thirty days before the National Company Law Appellate Tribunal". The proviso: the Appellate Tribunal "may allow an appeal to be filed after the expiry of the said period of thirty days if it is satisfied that there was sufficient cause for not filing the appeal but such period shall not exceed fifteen days."
| Step | Figure as printed |
|---|---|
| Who may appeal | "any person aggrieved by the order of the Adjudicating Authority under this part" |
| Forum | National Company Law Appellate Tribunal |
| Time | thirty days |
| Further time | sufficient cause, not exceeding fifteen days |
The words "under this part" make section 61 the appeal for orders of the Adjudicating Authority in Part II. A person aggrieved who wants to count the days and identify the correct order can take legal dispute resolution advice before the thirty days expire. The Appellate Tribunal is also described on the site in NCLAT appeals under the IBC and appeals to NCLAT and the Supreme Court. For the constitution of the Appellate Tribunal under the Companies Act, 2013, see the post on sections 408 to 418 of that Act and on appeal to the NCLAT under section 421 of the Companies Act, 2013.
Section 61(3): grounds of appeal against approval of a plan
"An appeal against an order approving a resolution plan under section 31 may be filed on the following grounds, namely: –
- (i) the approved resolution plan is in contravention of the provisions of any law for the time being in force;
- (ii) there has been material irregularity in exercise of the powers by the resolution professional during the corporate insolvency resolution period;
- (iii) the debts owed to operational creditors of the corporate debtor have not been provided for in the resolution plan in the manner specified by the Board;
- (iv) the insolvency resolution process costs have not been provided for repayment in priority to all other debts; or
- (v) the resolution plan does not comply with any other criteria specified by the Board."
The grounds are closed in the sense that the sub-section lists them; the section does not add a general ground. Sections 54M and 54P(1)(e) also use this sub-section for the pre-packaged process: see the article on sections 54L and 54M.
Section 61(4) and (5): liquidation orders and conversion orders
The consolidated text prints sub-sections (4) and (5) in a substituted form (a footnote records the earlier version, which is not law). Sub-section (4): "An appeal against a liquidation order passed under section 33, or sub-section (4) of section 54L, or sub-section (4) of section 54N, may be filed on grounds of material irregularity or fraud committed in relation to such a liquidation order." Sub-section (5): "An appeal against an order for initiation of corporate insolvency resolution process passed under sub-section (2) of section 54-O, may be filed on grounds of material irregularity or fraud committed in relation to such an order." The text of sub-section (4) is cut by a footnote block in the printing and is read across it.
Section 62: appeal to the Supreme Court
Section 62(1): "Any person aggrieved by an order of the National Company Law Appellate Tribunal may file an appeal to the Supreme Court on a question of law arising out of such order under this Code within forty-five days from the date of receipt of such order." Section 62(2): the Supreme Court, if satisfied that a person was prevented by sufficient cause from filing within forty-five days, may allow the appeal "to be filed within a further period not exceeding fifteen days."
| Section 61 | Section 62 | |
|---|---|---|
| Appeal from | Adjudicating Authority | National Company Law Appellate Tribunal |
| Appeal to | National Company Law Appellate Tribunal | Supreme Court |
| Subject | orders under Part II (grounds in sub-sections (3) to (5) for plan, liquidation and conversion orders) | "a question of law arising out of such order" |
| Time | thirty days | forty-five days |
| Extension | not exceeding fifteen days | not exceeding fifteen days |
| Period runs from | not stated in section 61(2) | "the date of receipt of such order" |
Section 61(2) does not say from what date its thirty days run; the text is silent. Section 62 says forty-five days from the date of receipt of the order.
What the Amendment Act, 2026 changes
Section 43 of the Insolvency and Bankruptcy Code (Amendment) Act, 2026 inserts a new sub-section (6) in section 61, after sub-section (5): "The National Company Law Appellate Tribunal shall dispose of the appeal within three months from the date of its receipt." The Amendment Act, 2026 comes into force on the date or dates the Central Government notifies; the notification is not in the texts consulted, so check whether this change has been notified.
| As printed in the consolidated text | After the 2026 Act |
|---|---|
| Section 61 ends at sub-section (5); no period for disposal of the appeal | New sub-section (6): the Appellate Tribunal "shall dispose of the appeal within three months from the date of its receipt" |
| Sections 32 and 62 | not amended by the Amendment Act, 2026 |
The new sub-section does not state what follows if the Appellate Tribunal does not dispose of the appeal in three months; the text is silent. The section 64 provision on expeditious disposal, which lets the President or Chairperson extend a period specified in the Code by not more than ten days, is dealt with in the article on sections 63, 64 and 64A; how it reads with the new sub-section is not stated in the texts consulted.
Amendments and notifications made after 12 August 2021, other than the Amendment Act, 2026, are not in the texts consulted and should be checked.
Example
Atlas Bearings Pvt Ltd's resolution plan is approved by the Adjudicating Authority. An operational creditor says its debts were not provided for in the manner specified by the Board. It files an appeal before the Appellate Tribunal within thirty days on the ground in section 61(3)(iii). The Appellate Tribunal decides; a party aggrieved on a question of law files an appeal to the Supreme Court within forty-five days from receipt of the order. After the 2026 Act, the Appellate Tribunal is to dispose of the appeal within three months of receipt. The names are invented.
Need help with an appeal?
Time limits of thirty and forty-five days are short, and the grounds against a plan are limited by the Code. Our team can help you assess an order and prepare the appeal through legal dispute resolution.
Key takeaways
- Section 61(2): an appeal to the National Company Law Appellate Tribunal within thirty days, plus up to fifteen days for sufficient cause.
- Section 61(3) lists five grounds against an order approving a plan; section 32 points to it.
- Section 61(4) and (5): liquidation orders and orders initiating a corporate insolvency resolution process under section 54-O are appealable on material irregularity or fraud.
- Section 62: an appeal to the Supreme Court on a question of law within forty-five days, plus up to fifteen days.
- The Amendment Act, 2026 adds section 61(6): disposal within three months from receipt; check whether it has been notified.
Read next
- Section 60: the Adjudicating Authority for corporate persons
- Sections 63, 64 and 64A
- Appeals to the NCLAT and the Supreme Court under the IBC
- Section 31: the approved plan and the clean slate
Disclaimer: Based on the IBBI consolidated text of the Insolvency and Bankruptcy Code, 2016 amended up to 12 August 2021 and on the Insolvency and Bankruptcy Code (Amendment) Act, 2026 (No. 6 of 2026), which comes into force on the date or dates notified by the Central Government, as consulted on 2 October 2026. It explains the words of the statute only; commencement notifications, other amendments made after 12 August 2021, notified thresholds, the rules and IBBI regulations, and the way tribunals and courts apply these sections should be checked. This article is general information, not legal advice; check the official text before acting.