CLB doesn’t have power to condone delay in filing appeal: SC

The Supreme Court held that Company Law Board (CLB) does not have power under Section 5 of the Limitation Act to condone the delay in filing an appeal under Section 58(3) of the Companies Act, 2013. It reiterated that the power to extend time under cannot be resorted to by statutory authorities, quasi-judicial bodies or tribunals, unless expressly indicated.