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
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