Initiation of CIRP - period of limitation - date of default - ...

Supreme Court overrules NCLT's CIRP initiation; finds claim within limitation period u/s 9, revisiting default date.

May 9, 2023

Case Laws Insolvency and Bankruptcy SC

Initiation of CIRP - period of limitation - date of default - the NCLT ought to have considered the invoices at least for the period preceding three years from the date of the application u/s 9, rather than considering the starting point of limitation as 12.03.2011. Under the circumstances, the order(s) passed by the NCLT and affirmed by the NCLAT are unsustainable - the view taken by the NCLT that the claim is barred by limitation is unsustainable. - SC

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Initiation of CIRP - period of limitation - date of default - ...

Supreme Court overrules NCLT's CIRP initiation; finds claim within limitation period u/s 9, revisiting default date.

May 9, 2023

Case Laws Insolvency and Bankruptcy SC

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