Initiation of CIRP - Period of limitation - Operational ...

NCLT admits CIRP application as default date falls outside Section 10-A IBC period; payment due by March 5, 2020.

June 7, 2023

Case Laws Insolvency and Bankruptcy AT

Initiation of CIRP - Period of limitation - Operational Creditors - the date of default is 60 days from 6.1.2020, which is the date of invoice. Counting 60 days from 6.1.2020, we find that the payment was due to be made by 5.3.2020. Thus, it is clear that the date of default is not covered in the period as stipulated in section 10-A of the IBC - NCLT rightly admitted the application - AT

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Initiation of CIRP - Period of limitation - Operational ...

NCLT admits CIRP application as default date falls outside Section 10-A IBC period; payment due by March 5, 2020.

June 7, 2023

Case Laws Insolvency and Bankruptcy AT

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