Initiation of CIRP - Period of limitation - here is an ...

CIRP initiation timely as debt acknowledgments by borrower and debtor extend limitation; NCLT Kolkata application valid.

March 30, 2020

Case Laws Insolvency and Bankruptcy AT

Initiation of CIRP - Period of limitation - here is an acknowledgment of Debt by the Principal Borrower but also the Corporate Debtor on 27.5.15 & 8.12.18 respectively.The object of specifying time limit for limitation is undoubtedly based on ‘Public Policy’.The application projected before the Adjudicating Authority(NCLT) Kolkata Bench, on 13.2.19 is well within limitation and not barred by Limitation.

View Source

← Previous Next →

Initiation of CIRP - Period of limitation - here is an ...

CIRP initiation timely as debt acknowledgments by borrower and debtor extend limitation; NCLT Kolkata application valid.

March 30, 2020

Case Laws Insolvency and Bankruptcy AT

You may also like:

Initiation of CIRP - Period of limitation - It is clear that on the day of filing the petition U/S 7 of the Code, there was a subsisting liability on the corporate...

Initiation of CIRP - liability of Guarantor of loan - acknowledgment of debt by the Principal Borrower shall be binding on the Guarantor or not - The Tribunal found no...

Initiation of CIRP - Period of limitation - to be recognized from the date of NPA or Balance Sheet recognizing the debt - An application under Section 7 of the IBC would...

Period of limitation for filing of Application for initiation of CIRP - an application under Section 7 of the IBC would not be barred by limitation, on the ground that...

Initiation of CIRP - NCLT admitted the application - NCLAT quashed the proceedings - Financial Creditors - Period of limitation - An acknowledgement made in writing...

Initiation of CIRP - corporate guarantor - Period of limitation - A fresh period of limitation is required to be computed from the date of acknowledgment of debt by the...

Initiation of CIRP - Period of limitation - NPA - it appears that the bank had asserted, the bar of limitation did not apply as the corporate debtor had made...

Initiation of CIRP - NCLT admitted the application u/s 7 - period of limitation - The application filed by the Respondent No. 1 was not barred by time there being...

The appeal challenged the admittance of a Section 95 application filed by the Financial Creditor, contending it was time-barred. The key issue was whether a letter dated...

Initiation of CIRP proceedings was challenged on the ground of limitation, which was rejected by the Adjudicating Authority and NCLAT based on the acknowledgement of...

Initiation of CIRP - Period of limitation -acknowledgement of debts in the Balance Sheet - the acknowledgement in Balance Sheet for FY 2016-17, relied upon by the...

CIRP - Period of limitation - in terms of the Section 128 of the Indian Contract Act, 1872 the liability of the Respondent was always co-extensive with debt of Principal...

The NCLAT upheld the admission of the Section 7 application filed by the Financial Creditor (Respondent No.1) for initiating CIRP against the Corporate Debtor. It held...

Maintainability of application - initiation of CIRP - Period of limitation after default - the Adjudicating Authority relied on the balance sheet to hold that there was...

Initiation of CIRP - Application barred by time limitation or not - The acknowledgement made by the Principal Borrower within three years’ period from the date of...

Quick Updates: