Bombay HC: Insolvency Cannot be Used to Evade a Family Court’s Maintenance Order  ||  Kerala HC: Forklifts and Factory Cranes Are Motor Vehicles and Must be Registered under MV Act  ||  Guj HC: Edible Crude Palm Kernel Oil Qualifies for Duty Exemption; End-Use Condition not Applicable  ||  NCLAT Delhi: Advance under Land-Development MoU is not Financial Debt and Cannot Trigger CIRP  ||  NCLAT: NCLT Cannot Change Capital Structure of a Legally Compliant Successful Auction Purchaser  ||  Supreme Court: Endless Investigation and Long Delay in Filing Chargesheet Can Justify Quashing Case  ||  SC: Landowners Accepting Compensation Settlements Cannot Later Claim Statutory Benefits  ||  Supreme Court: Provident Fund Dues Have Priority over a Bank’s Claim under the SARFAESI Act  ||  Supreme Court: Indian Courts Cannot Appoint Arbitrators for Arbitrations Seated Outside India  ||  Madras HC: Police Superintendent not Liable For IO’s Delay In Filing Chargesheet or Closure Report    

NCLAT: Limitation Period Applicable to Application Filed by Financial Creditor - (16 Mar 2020)

LIMITATION

National Company Law Appellate Tribunal has reversed the order of the National Company Law Tribunal, Ahemdabad holding that the order of admission of an application filed by Bank of India as the financial creditor, under Section 7 of the Insolvency & Bankruptcy Code, 2016 (IBC) was time-barred, reiterating that the limitation period in Section 137 of the Limitation Act, 1963 applies to applications under Sections 7 and 9 of IBC.

Tags : NATIONAL COMPANY LAW APPELLATE TRIBUNAL   LIMITATION ON APPLICATION BY FINANCIAL CREDITOR  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved