Application under Section 7 or 9 of the IBC is extendable only by an application under Section 5 of Limitation Act on grounds of sufficient cause

The Supreme Court of India (“Supreme Court”) in the case of Sabarmati Gas Limited vs. Shah Alloys Limited held that (a) in an application under Section 7 or 9 of the Insolvency and Bankruptcy Code, 2016 (“IBC”), the period of limitation would be 3 (three) years from the date when the right to apply accrues, i.e.

Filed under:
India, Insolvency & Restructuring, Litigation, JSA, Insolvency and Bankruptcy Code (India), Supreme Court of the United States, Supreme Court of India, National Company Law Tribunal
Authors:
Dhirendra Negi , Divyam Agarwal , Pallavi Kumar , Tanya Tiwari , Avinash Das
Location:
India
Firm:
JSA
Application under Section 7 or 9 of the IBC is extendable only by an application under Section 5 of Limitation Act on grounds of sufficient cause

The Supreme Court of India (“Supreme Court”) in the case of Sabarmati Gas Limited vs. Shah Alloys Limited1 held that (a) in an application under Section 7 or 9 of the Insolvency and Bankruptcy Code, 2016 (“IBC”), the period of limitation would be 3 (three) years from the date when the right to apply accrues, i.e.

Filed under:
India, Insolvency & Restructuring, Litigation, JSA, Insolvency and Bankruptcy Code (India), Supreme Court of India, National Company Law Tribunal
Authors:
Dhirendra Negi , Divyam Agarwal , Pallavi Kumar , Tanya Tiwari , Avinash Das
Location:
India
Firm:
JSA