Initiation of CIRP by Operational Creditors - the Appellant has ...

February 27, 2021

Case Laws     Insolvency and Bankruptcy     AT

Initiation of CIRP by Operational Creditors - the Appellant has not fulfilled any of the conditions enumerated in Sub-Section 2 of Section 14 of the Limitation Act - thus it is not correct to accept the contention of the Appellant that the winding-up petition No.6 of 2015 was dismissed on the ground of mis-joinder of parties, and the benefit of Section 14 of the Limitation Act, 1963 cannot be allowed to appellant. - Relaxation under Section 5 of the Limitation Act, 1963 cannot be allowed for unexplained period of about two years and ten months. - AT

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