Initiation of CIRP - time limitation - In respect of the ...

CIRP time limit expired for 2013 invoices in 2016; 2017 cheques don't extend u/s 18, Limitation Act.

June 11, 2020

Case Laws Insolvency and Bankruptcy AT

Initiation of CIRP - time limitation - In respect of the invoices raised in the year 2013 the prescribed period of limitation being three years in terms of Article 137 of the Limitation Act, 1963 expired in the year 2016 and the issuance of cheques by the 'Corporate Debtor' in the year 2017 being well beyond the prescribed period of three years would not be construed as an acknowledgment in writing within the prescribed period of limitation in terms of Section 18 of the Limitation Act, 1963.

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Initiation of CIRP - time limitation - In respect of the ...

CIRP time limit expired for 2013 invoices in 2016; 2017 cheques don't extend u/s 18, Limitation Act.

June 11, 2020

Case Laws Insolvency and Bankruptcy AT

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